8) exactly, and the exhaust valve clearance is the critical one as the piston chases the exhaust valve, where as the intake valve chases the piston. as i recall the critical point is about 20 degrees before top dead center. set the piston at that point on the exhaust stroke, and then using a dial indicator open the exhaust valve further until the valve hits the piston and see how far it travels. if it is at least .100" you are fine.
I've read that if you put some soft clay on top of the piston and bolt down the head. Then turn the crank over slowly by hand. The valves will make an impression in the clay that you can then measure.
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