I have these in my motor. Yes the oil band lowering does work. What you really need to know is that you'll need custom length Pushrods and that whatever heads you use will need work on them to allow for the weird angle that is given off by the longer length lifters. I was planning to use my x heads but when I found out about that angle I order up a pair of eddy heads because they are aluminum (which can easily be repaired vs cast iron heads if you screw up trying to get the angle right). You can probably do this with the RHS head but I went aluminum for the stated reason. You really can't get out of the problem no more which rocker arms you use (I have comp pro mags 1.5 ratio). As far as lift goes you need to determine which piston your using. Because I have flat top pistons I was limited to no more then .510 lift. This is all in my 340.
I suggest that you get yourself some 1.6 roller rocker arms (pro mags are good), a solid roller cam with a cast iron gear on it, and solid lifter roller lifters. The reason for this is the solid roller lifters are shorter than the hyd roller lifters and with the 1.6 rocker arms you can order a smaller solid lifter cam that will end up acting like a much bigger cam.