What is the proper way to set the bolt on the clutch cam adjustment?
After you have set for 'free neutral', i.e. you have low pedal band correctly set.
And you have adjusted the clevis with the specified gap with the clutch lever bolt off the cam.
Best results for setting the bolt is to have the engine and trans warm, and running, and the T on all four wheels, in the driveway, floorboards out, and you sitting in the seat.
Pull the lever to neutral position, emergency brakes off.
Reach down with a wrench and turn the bolt until the T starts to move ahead (have lots of forward space and take care), then when the T begins to creep too much, back off the bolt until the creep is gone, or is just so minimal the creep seems to be gone.
That is the setting, lock down the nut on the bolt to secure the correct position so it won't back off.
Now your T should be able to be pushed around when lever is in neutral, and shouldn't creep with warm engine running and emergency brakes not yet set. (A cold engine and cold oil will cause a bit of creep until the clutch discs get free of cold congealed oil.)
Put a dab of grease on the cam surface so the bolt end can slide easy too when pulling back the lever. Sometimes better luck and smoother pulling is with inverting the bolt, head side down facing the cam surface. Grind the hex head so the edges are tapered or rounded off. Then the bolt head has more surface area to slide on greased cam surface, won't dig in like the bare threaded end as Ford did it.
anybody on here ever use a carriage bolt?
You need a fine thread, which most hardware stores don't carry in carriage style.
If you could find one, you would want to file off any text/numbers/embossing that is usually on them.
I don't use a carriage bolt, but I do turn the bolt upside down so the head rides on the cam. But before I do that, I round off corners of the bolt head, but leave just enough hex to turn with a wrench.