From the MerCruiser 1986 Manual, Vol 2 Page 5A-3 (GM 4 and 6 cylinder):
Valve Adjustment - Engine Running
(paraphrased)
1. Warm up engine
2. At idle back off rocker arm nut until it begins to tap.
3. Tighten nut until tapping stops.
4. Turn 1/4 turn additional and wait 10 seconds. Repeat until 3/4 turn has been completed.
The section on GM V-8 says the same thing.
In all fairness, it also gives the engine stopped procedure. When I learned it was to do them running and except for initial setup on a rebuild I've always done them running. I think you get a better job on hydraulics that way. Unless you rev the engine or something is messed up there isn't usually an oil problem.
We sent the bearing to an outfit in Seattle (bottom half) and they redid it. Somehow the lip had broken off. Even with only half the bearing to work with they just re-poured it and made it the same size as it was when they got it. Worked fine.
I've always felt an ounce of prevention is worth a pound of cure as the saying goes and like to get some input whenever I try something I haven't done in a while (probably 25 years)so that's why I asked the question. It's a lot easier and cheaper to do it right the first time and I can't really afford to replace a bunch of stuff just because I didn't ask a question first. If I knew all the answers I'd be giving the advice, not asking for it.
I hope I didn't offend anyone. I'm just trying to preserve and make an occasional hay hauler/cruise-in vehicle out of what was destined for the crusher a couple of weeks ago. The valves are the last major item (lots of minor) before I start using it. I'm planning on adjusting them tomorrow. I'll let everyone know how it comes out.
