After reading Torch's description
here and Fred W's description
here of this procedure (along with lots of other great content on this forum), I decided to tackle this myself as part of my Big Winter Maintenance project (plugs, oil/filter, coolant, PAIR plates, final drive oil, TBS).
Disassembly was uneventful, thanks to the very clear instructions. Like everyone else who does this job, my hope was that all valves would be within spec and I would be one of the lucky group who get to skip lifting the cams and go directly to reassembly. I followed Torch's instruction to "Rotate the engine so the cam lobes are 180 degrees from the lifter surface", reached up to slip the .006" feeler gauge in that 4-2 valve and...no-go. Just barely a no-go but a no-go. Crap! After verifying it by checking it from every possible direction, rolling the engine over and trying it again, even switching to another set of feeler gauges, I accepted the fact that I was going to have to lift at least the intake cam. Turns out all the rest of the valves were OK with the exhaust valves all perfect at .008" go, .009" no-go. All other intake valves were on the tight-ish side of spec at .006" go, .007" no-go, with the 1-1 valve a very tight .006".
In preparation for lifting the intake cam I reread the FSM regarding valve check/adjustment. I noticed that it specified checking clearance with each piston at TDC. This occurs when the "T" mark on the pickup coil rotor aligns with the split in the crankcase and results in the cam lobes (sort of) pointing away from each other, a different position than Torch specifies. Given this glimmer of hope, I decided to re-check the clearances and...VOILA, all OK! The 4-2 intake valve was still tight-ish at .006" but a definite "go".
Now I had conflict. To adjust or not to adjust, that is the question. After much internal debate and based on Fred's comments
here I decided to follow the FSM-based results, leave it as-is, button it back up and drive it.
Just thought I'd pass along my experience as I hadn't really seen much discussion of this.