marvin ribbich,
If you ADD .005 to your hot specs when you set your valves COLD, you will be very close.
It would be good insurance to check them when the engine was up to temperature, but not necessarily running. With the valve cover off and the plugs pulled, this isn't a big chore. I think Hotrod Lincolns 'companion cylinder' method makes this task even easier.
I personally like to set the valves hot with the engine running. I find it quite accurate, and not as messy as folks make it out to be...these old rockers 'drip', they don't spray!
Stuart
