Next stage--check valve timing. The intake is automatic. You can't do anything there except make sure you are using the lightest spring that will still close the valve after you push it open with your finger. The stem of the valve should slide very freely with no binding in the guide. The exhaust valve--well, first turn the flywheel clockwise until you know the piston has reached top dead center on the compression stroke. Then keep on turning it slowly and watch as the piston approaches bottom dead center. When the piston skirt has reached a point about 1/8" before the very bottom of it's stroke, stop. Loosen off the set screw that holds the crankshaft timing gear in place, and without letting the crankshaft turn, rotate the crankshaft gear slowly clockwise until you see the cam just start to have some influence on the rocker arm. This is hard to see, so you might want to have a dial indicator positioned so that if the rocker begins to move you will see the dial move. As soon as the dial indicates that the cam is influencing the rocker arm, lock the set-screws in the crankshaft gear. That sets your valve timing.--report back to me what happened. Before you set the exhaust valve timing, make sure that the cam is not exerting any influence on the long lifter, use a feeler gauge and make sure you have about .005 to .008" clearance between the lifter rod and the rocker arm--that is called "valve lash". If you don't have that set correctly, your exhaust valve will never close properly and you will lose compression during the compression stroke.
