I hade both at one time. A coned TM when I bought the xb2003 from Jaco and later a SM, both on the same 225 PM (dual cable steering). I can tell you first hand it is true, the coned TM was 2-3 mph faster than the SM and it handled slightly better.
Back years ago there was a post that went into great detail for the reasons why....seemed like it has to do with body length and width, and effect those factors have on drag and the amount of clean water getting to the prop...or something like that. maybe someone can find that old post??
As to cones, if it were me I would use a JC cone. He is the originator of the Tooter/Titus cone, and he is back in the "coning" business.
Having said all that I don't think I would expend the funds to go to a coned TM if I already had a SM. The last 2 mph are not worth it to me and with hydralic steering the handling differences would be hardly noticable.