Lets see now...valve to guide clearance was actually a little tight...Nicholson's recommends 0.004" on new cast iron guides as they tend to tighten up with use and can result in the valve getting stuck in the guide (I know this for a fact from personal experience...twice). Now I have to admit that seems a little sloppy to me, I have found that if re-using cast iron guides that have been through several heat cycles, a clearance of 0.002" suits just fine and that is what I reamed these guides to. If you are using Phosphor Bronze guides, you can ream them to 0.002" right from new and be just fine. I think I mentioned in a previous post that the timing side main bearing clearance was found to be 0.002"...in the past I have set them closer, but after having a newly built A50 nip up on the owner (He had been riding it around for three weeks with no problems, but after idling in his driveway for 20 minutes, it nipped up...duhhh!), I like to have the extra thousandth clearance. I set the thrust clearance at 0.003". The valve springs are the original used ones, they weren't rusty and all were equal lengths...I've put dozens and dozens of these old Brits back on the road over the past 40 years or so and never had any problem reusing valve springs as long as they are rust free (rusty springs can break). Valves themselves...I look for pitting on the sealing face, wear on the stem where the rocker adjuster contacts it, malformation such as tuliping, good seating for the collets and worn/ scuffed valve stems. If they are worn, or cannot be reground to a smooth sealing face they get tossed into the junk bin. If the seats are pitted, they get a three angle re-cut, then valves and seats get lapped and checked with machinist's bluing to check for proper contact.
Today's progress, the transmission found to be in amazingly good condition...after being gutted and cleaned: