Rich,
I saw your post and haven't had a chance. You know, busy stuff
Anyway, you need to read the Chilton's or Haynes. The only difference is that your parts are broken in so you don't want to tighten the 1&1/2 turns they refer to.
It kind of sounds like you have a loose lifter, but you won't know until you open it up.
You set your TDC on #1 and then check the valves in the order listed then TDC on #4 and so on. You back off the nut until you can wiggle the pushrod back and forth. You then tighten it JUST until you can't wiggle it any more back and forth, and then turn it 1 more full turn tighter.
This is assuming you have stock everything. You can run a search and there have been a few discussions with longer descripts. Also, check Hotrodders.com because they have had a few threads on adjusting the SBC's, if you have converted your valves.
You can get alot fancier, but this will work. Good luck.
Arn