I grew up around a bunch of oldtime wrench jockeys who insisted the only way to get a good valve adjustment was on a running engine. They would turn the idle speed WAY down and chase those rocker arms with a screwdriver and a box end wrench, and it was amusing to watch. As I mentioned before, if the rocker tip had a divot worn into it, any kind of adjustment method except a dial indicator was pretty useless. There was a dial indicator equipped tool called a "P & G Valve Gapper" that was clipped onto the top of the valve spring and monitored the movement of the rocker arm that was supposed to be able to compensate for a worn rocker tip, but they were very expensive, and pretty fragile.
Jerry