Final valve adjustment settings are always done on fully warmed-up engines. Shop/Maintenance manuals always stress this (run for 30 minutes before setting valve lash).

Another factor that affects valve lash adjustments on old engines is that the valve-to-tappet (rocker arm) contact point can become quite warn and a groove gets warn into the contact face on the tappet. A good adjustment is impossible unless that contract surface is smooth (a jack-leg work-around was to use thin feeler gauges - ugh). This concern is described in some of the valve lash setting tech tips.