I've read the arguments about setting valves hot or cold and I know that in the FSM hot is recommended. Today I decided to give it a little test. I adjusted valves on a '77 2F, '81 2F, and '88 3FE. Initially my plan was to warm up the engines, adjust the valves, let engines cool and recheck. I made it 1/2 way through this process before I lost patience, these engines hold heat for a long time.
Engines were warmed to ca. 180-185 F and the valves were adjusted to the stock setting of 0.008 IN and 0.014 EX. I allowed the '77 2F to cool before rechecking the valves; radiator was only very slightly warm. Ambient temp was in low to mid 70s F. I think there was ca. a 100F degree difference between the hot and cool settings.
When I rechecked the valves there was at most a 0.001 inch difference with any of the settings. For example with some EX a 0.013 feeler fit better than the 0.014 or a 0.007 instead of a 0.008 for some IN. There was a similar trend with the 3FE valves that I checked.
From this meager test I would say that hot is better but in a pinch you can get away with setting valves cold.
Engines were warmed to ca. 180-185 F and the valves were adjusted to the stock setting of 0.008 IN and 0.014 EX. I allowed the '77 2F to cool before rechecking the valves; radiator was only very slightly warm. Ambient temp was in low to mid 70s F. I think there was ca. a 100F degree difference between the hot and cool settings.
When I rechecked the valves there was at most a 0.001 inch difference with any of the settings. For example with some EX a 0.013 feeler fit better than the 0.014 or a 0.007 instead of a 0.008 for some IN. There was a similar trend with the 3FE valves that I checked.
From this meager test I would say that hot is better but in a pinch you can get away with setting valves cold.