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I heard what I thought was a bad lifter so I removed the valve cover to take a look. I now find out that the heads have screw in studs, guide plates and nonrail rockers. My Question is that I think that they are the kind that require adjustment. There is only one nylox nut holding the rocker on. is this correct? What is the cold gap to set them? I do not have extra covers with top removed to set them hot. Any help, advice?
TIA
 

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You gotta find out if you have solids or hydraulic lifters... If hydraulic, back off the nut till it clicks, slowly tighten 1/2 turn.

Solid lifters are set different. Bumping the starter, watch an intake valve open and start to close, set the exhaust.... When the exhaust starts to open, set the intake. Clearance varies with the camshaft. A 289 HiPo adjusts on .020"I, .022"E
 

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Chances are you have hydraulic lifters. Loosen the nut till the pushrod spins freely. Tighten the nut while twisting the pushrod. When you feel the pushrod just start to drag, stop and go 1/2 turn more.

Here is a chart that shows how to do it with the engine not running and just three positionings of the crank.

http://a8.cpimg.com/image/D8/59/10771928-0678-0200012F-.jpg
 

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I have never had luck adjusting valves with the engine not running. Yesterday I went to the bone yard and picked up a valve cover. 10 minutes with a cut off wheel and I now a nice slot in the top so I can adjust them hot. $10 for the valve cover will be well worth it.
 
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