I think the most important thing to consider and establish on any engine is correct valve train geometry. Any number of factors can vary it including design/assembly mistakes and service procedures performed since factory assembly. You also have to consider valve spring installed height/coil bind and other factors to arrive at a successful assembly.
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The procedure for collapsing lifters (special service tool needed) and measuring valve lash is described in your MEL engine manual. This will be your first step in arriving at proper geometry. Also early MELS were plagued with valve train problems, but most were addressed by the 1959 production run. This is another consideration that has to be taken into account.
The FE adjustable rocker arms are interchangeable to a MEL, as are the tappets (be sure to include mechanical style push rods). The adjustable rockers will also give you a lift increase of 1.76 as compared to 1.73 for non-adjustable.
Factory Method Of Installing Adjustable Rocker Arms On A Hydraulic Camshaft –
Position the No. 1 piston on TDC at the end of the compression stroke. Bleed the hydraulic lifter for each valve to the fully compressed position. Adjust the locking nut on the end of the rocker arm to obtain a clearance of 0.110” -0.210” at the valve. Repeat this procedure for each cylinder by turning the crankshaft a ¼-turn at a time in the direction of rotation, while adjusting the valves in the firing order (1-5-4-2-6-3-7-8).
Operate the engine and check for rough engine idle or noisy lifter(s). Tight valve clearance causes rough engine idle. Loose valve clearance causes noisy lifter(s).
Source- FORD MUSCLE PARTS CATALOG