First we need the engine and heads on it. And whether the rocker arm studs have been replaced with something better.
Does it have hydraulic or mechanicle valve train.If its stock/stock replacement its hydraulic.And then theres the whole is it a roller cam question???
I would suggest getting one of the "How to rebuild your small block ford" manuals. These go into detail on how to do it. There is a way to do it that you only have to rotate the engine to 3 positions. or, If you don't have adjustable rockers you just have to tighten them. On mine I use the "EIIO" method. That is to use a switch that bypasses the solenoid and when the exhaust starts to go in you adjust the intake, and when the intake starts out you adjust the exhaust. Tighten them down til they don't move then tighten the nut 1/2 turn. I do this for each cylinder. Personally, I reccomend the book. I have 3 different ones and I refer to them all the time.
Check the video: http://www.youtube.com/watch?v=89o5rLpbCgI&eurl=http://sbftech.com/index.php/topic,12816.0.html Credits: Nathan Moonen 1. Remove the valve covers, and pick a cylinder you are going to set the preload on. I think the easiest and fastest way is to just follow the firing order. For the 5.0 HO and 351w the firing order is 1-3-7-2-6-5-4-8. Start with the No. 1 cylinder (passenger side front). 2. Hand rotate the engine in its normal direction of rotation and watch the exhaust valve on that particular cylinder. When the exhaust valve begins to open, stop. You are now ready to adjust that cylinder's intake rocker arm. 3. Back off the intake rocker arm adjuster and remove any tension from the pushrod. Wait a minute or two for that hydraulic lifter to return to a neutral position. The spring inside the lifter will move the pushrod seat up against the retaining lock if you give it time to do so. 4. Now pull up and down (or rotate) the intake pushrod with your fingers while tightening down the rocker arm. When you feel a slight resistance to the movement of the pushrod, you are at "Zero Lash". Turn the adjusting nut down one quarter to one half turn from that point. Lock the adjuster into position. The intake is now adjusted properly. Wrench/Nut Turning ⅛ - ¼ - ½ 5. Continue to hand turn the engine, watching that same intake. It will go to full open and then begin to close. When it is almost closed, stop and adjust the exhaust rocker arm on that particular cylinder. Loosen the exhaust rocker arm and follow the same procedure described before in steps 3 and 4 to adjust this rocker arm. 6. Both valves on this cylinder are now adjusted, and you can move on to your next cylinder and follow the same procedure again. *If you are using a bolt down pedestal type rocker, or using a mechanical camshaft, consult a Chiltons/Haynes or other manual for guidance, as this procedure works only on valvetrains using adjustable stud mount rocker arms and hydraulic lifters.