As mentioned before, with the intake off, take the lash out of the pushrod when that cylinder is at TDC, and then 1/2 turn(some like 3/4)and its done. The otherway is with the engine running. Back off the nut until the lifter starts to chatter, and as soon as the chatter is gone as you tighten it back up, 1/2 turn.
it doesn't matter which one you start with, but for example, move the intake lifter until it's at the lowest point and adjust the exhaust. you set the lash by spinning the pushrod with one hand, and itghten the lifter nut until you feel a small drag on the pushrod. then most people/ cam compaines will tell you to turn the nut one more half turn. do the same for the intake lifter and then move on to the next set. i have done this with either the intake on or off, but it is easier with the intake off.
Hey, the slickest/easiest way to do this is with the motor running. No guess work there. Find an old valve cover and have someone cut out a long slot for your socket and extension. Bolt it on, fire her up ( hopefully you cut the slot right so its not directly above the pushrods!- oil city) and loosen till the valve clics, tighten to stop, and add preload. Getting the valve cover right is the hard part, but you'll have it for next time. This way the valve adjustment takes approximately 10 minutes!
I would give them a 1/2 turn of preload. So tighten 1/2 turn after the clicking stops.
Option 2 is to "feel" set. Kind a iffy. Get the cam right by the Exhaust Open/ Intake Closed method, and spin the pushrod with your fingers until it drags, then add preload and move on to the next valve.
You'll need to pull the plugs and crank the mill by hand to do this correctly.
See why the valve cover/cutting torch method is so slick!
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