The valves adjust like any GM V8. I prefer setting cold, and then running the engine and setting by ear.
I did a cam swap on my 72 Classic cruiser. It was part of my resto project. It was the last year of the round headlights. A two door, with vinyl top.
The cam swap was the best thing I could have done. I also did a full valve job, head planing. I went with headers and duals.
My fuel mileage jumped up, the engine really had off line power, and except for a little lope at idle, she was a dream. I did rebuild the Quadrajet. She was a real sleeper. The only external evidence of a rat motor, was the dual 3"rear exhaust outlets, and 255/70-15 tires. I went full poly suspension, heavy duty shocks, and for a road car, it was a joy to drive.
I do not remember the specs on the cam, but, it was a Blue Racer. It came alive at 1000rpm, and peaked at 2800rpm. It was all bottom end.
The headers fried my starter solenoid. A little prevention would have made a difference. It would start, but it wouldn't let go once it started.
That massive two door, once the cam broke in, was a really pleasant experience. I would do it again.