Clearance tightens up between the tappets and valve stem as the valves seat into the head.
RT
I would agree they tighten up, but not by much, less than a thou or I wouldn't like it. I wouldn't expect or suspect valves or their seats settling.
On the other hand if you have a tappet point, the hardened end that pushes on the vavle top, that wears a lot or heaven forbid the hardening gives up and you get a pit (I've seen it) you will get a lot of clearance quickly. This is difficult to measure witha flat gauge as the gauge will traverse the wear or the pit and give a false good reading.
If you don't know for sure the condition of your tappet ends, you should pull them and look, every 10 thousand miles or so, or if a louder ticking begins, IMO.