Thanks for all the suggestions! For clarity sake, I did the pry bar test and they are definately solid lifters.
I'll take it for a 30 minute drive tomorrow to be sure everything is warmed up and then do the valve adjustment as per the service manual.
Engine is original to the truck and has 78,000 miles on it.
When I turn the engine over by hand all the valves open and close but there is no apparent free play anywhere.
My gut feeling is that the valves are just too tight.
I think my friend who adjusted them may have assumed they are hydraulic and that's why they are too tight. Sure am glad he didn't add the 3/4 turn. At least it seems that way otherwise I wouldn't have such good compression (150#'s on all 6 cylinders).
Unfortunately, I can't reach him he's away on a lengthy trip and won't be back til the end of April.
Thanks again. I'll get back to you all when I have more info.
Sam