I was taught by a few good old boys (back in 1969) to set the valves with engine running. What a pain and what a mess.
Now, I only do the
static adjustment technique. This could not be much simpler: after finding #1 at TDC and setting half of the valves, you just rotate the crankshaft 360 degrees and then set the other half of the valves.
I bought an old
Zim valve adjuster a few years ago and the job is now a little easier.
The Zim tool shows up regularly on eBay. 
