I am working on a engine. I was hoping just to get it running, but I keep seeing more I should do.
The valves are the two piece type and one of them looks like you can see both pieces from the top, so I am considering replacing the valves. But then I look at the lifters and see a an indentation where the valve has worn in. I would not be able to adjustments without replacing the lifters...
How big of a project is it to replace the lifters?
Depends on where you are in the process. If the front cover and pan inspection plate are off, not bad. If not you have to pull the pulley forward about an 1", take off the generator bracket, remove the timing cover and inspection plate and remove valves and springs. Then you have to reach up from the bottom and push the lifters up, they have holes in the side that are just the right size to insert the pins that hold the spring seats. Remove the bolts holding the cam shaft and remove same. Stuff the area in back with rages and pull pins and drop the lifters out. Now you have to reinstall the new lifters. I just did this job and used a good thick grease to hold the new lifters in place then slid the cam back in. Even with the lifters adjusters run all the way down you will still have the shorten the valve stem. When you put the cam back in make sure the locator holes are as close to the holes in the block as you can and make sure they line up before installing the retain bolts. Don't forget to remove the rags or shop towels and check the timing marks, it does not matter the rotation position as long as they line up. I take a photo of the lined up marks as a double check.
Before you order new lifters. Make sure your replacement lifters are the same diameter as your old ones. I ordered new adjustable lifters for mine and had to ream the lifter holes to fit. I was rebuilding the complete engine so not a problem.
Doing Mark's procedure above, use spring type clothespins to hold the lifters in place while removing/installing the camshaft.
Wood clothes pins works good. I was working under the car by myself and did not want to pull the engine pans so I could reach up and put them on.