[MrFixIt]

By what Phillyfanfrombirth is describing, it seems as though this would get the lifters to zero clearance but no preload, correct? From all of the hydraulic lifter adjustment procedures I've read, the next step would be to add 1/2 to 3/4 turn on the rocker nut to put the lifter somewhere in the middle of its adjustment range. (This also applies to both cold and hot engines, so it seems non-critical.) Yet, when doing this, the engine runs very rough.

If I understand correctly, what you are saying is that the lifter will pump up once the engine is started. That means that the lifter height at rest isn't the lifter height with oil pressure. In that case, yes, it does seem to be an iterative process. That explains why I hear much less valve noise after doing the last round of adjustments. Sounds like its time to do this a few more times.

But that begs the question: How do I know what my preload is if the lifter height changes with oil pressure?

I don't mean to make this overly complicated. Just trying to get a good understanding of the process. By the way, Gearhead, the motor was rebuilt many years ago, and has about 15K miles on the build. (C-code 289, totally stock.) The valves and seats were re-ground and springs shimmed. She runs strong, just trying to work out a few kinks. Starting with the valves, then moving to carburetion next.

Thanks for all your help guys.