My engine has a 276/286/110 cam and hydraulic lifters, and was initially set-up at 1/4 turn preload. This quickly proved to be inadequate, as soon after break-in it began to tick. I reset the preload to 1/2 a turn. And so it was quiet for a long time.
Eventually, I got the idea that if I ran the Hydros at zero-preload, they would act like solids, so I set them that way. Now they tick ever so slightly.
The result of this is that the lifters cannot pump up, if the springs lose control; and so, the engine revs to over8000 on a miss-shift, lol. So I installed a rev-limiter, then fixed my shifter. 7200 is all she gets now.
That was 20 years ago. and she still ticks a lil.
Another upshot of this, is that since the lifters cannot pump up, which could drive the valves into the pistons, I no longer have to worry about that.
The Exhaust valves, in particular, need some seat time to transfer heat to the head. And so, in my case, the exhaust valves get at least the maximum amount of seat-time allowed by the cam.
IMO
On the street, a lil loose is better than a lil tight.