Okay, I've had a few beers, Friday before a long weekend and what the heck, post away!
Folks get all concerned about flathead valve clearances - I used to be the same. I read every dang cam card, pondered hot vs. cold, etc. So here are a few conclusions after many years of running them:
1) I have yet to find a situation where the clearances were tighter down the road then when I set them . . . hasn't happened yet.
2) I always set them on the tight side of any spec - as I've spent WAY too many hours taking intakes off, only to find the clearances were .003 to .006 bigger than I set them.
3) So . . . I pretty much set EVERY flat tappet flathead cam to about .010 to .012 on the intakes and .012 to .014 on the exhausts. It has worked very well for me - as noted above, they always seem to 'loosen' a bit in a very short period of time.
4) Adjustable Lifters: The single biggest issue is that a lot of them have a poor interference fit between the adjuster and the body - so they are too loose and won't hold adjustment. With BIG high-lift cams, the situation gets worse (think Potvin 425) - just not enough threads to hold the adjustment. So, think about thin 'jamb nuts' to lock down your adjustments with big cams on used Johnson style lifters. If you can jamb-nut them, you'll be amazed how your lash settings actually STAY PUT. Buy some thin 'lifter wrenches' - or grind your 7/16 wrenches down to be 'tappet wrenches' - then with a thin jamb nut on the adjuster - you can lock it in. Trust me - this is what you should be thinking about doing.
Okay - onto my next beer . . . glug, glug, glug . . .
B&S