Wiggle Test:
- remove the tappet covers
- remove spark plugs
- remove points cover
- rest your finger on the #1 intake tappet
- rotate the crank clockwise using the big nut under the points cover
- feel the #1 intake tappet fall then rise again
- after it has risen, look through the round hole at the top of the points plate
- rotate the engine slowly until the T 1.4 lines up with the timing pointer
your crank is now positioned with the #1 cylinder at TDC of the power stroke.
Tappets 1-intake, 1-exhaust, 2-exhaust and 3 intake should have a little wiggle to them. All other tappets should be firm.
now rotate the crank clockwise 360 degrees until T 1.4 comes all the way back to the pointer. There should now be wiggle in the #2 intake, #3 exhaust and both tappets for #4. All others firm.
If you come across any valves that never get firm or never wiggle, then you definitely need to adjust the tappets.
Your manual should have a section on tappet adjustment. It may be buried. My Haynes manual has it in the engine reassembly section. Basically it is the same as the above but instead of just wiggling the tappets, you measure the gap between the tappet and the valve stem. .002 on the intake and .003 on the exhaust. Specialized tappet gauges help.