Gathering info on the procedure:

Tools/Parts Required
Micrometer with .001mm resolution
Metric Feeler Gauges
Torque Wrench that measures Nm and goes below 8Nm
Misc metric sockets, wrenches, T-30 Torx bit/socket (you might need more than one - some of the bolts can be tough to loosen and you might break one or two bits)
Tool set, wrench and locking pins T3880330, price ranges $44-75 (optional? some have used nails to secure the sprocket tensioners)

Parts Required
New cam cover gasket (1) T1260900
Cam cover sealing washers (4) T1260209
Crush washer for oil feed tube (2) 3550042-T0301
Oil feed tube o-ring (1) T3600077
Oil feed tube banjo bolts (optional, but they snap very easily so if you're a klutz like me, order a couple) T1211456
Shims, $6-11 each (you won't know what you need until you get deep in the process)
- Dinqua's shim calculator (download)
- Yamaha V-Max shims are the same diameter, 25mm (in case you don't have a Triumph dealership close)
- If you've got the time, post your shim needs in the Classifieds forum and see if other members have the shims you need (see notes, below)

Factory Info
Valve Clearances in Factory Manual
Intake: 0.15mm-0.20mm
Exhaust: 0.25mm-0.30mm

Factory Adjustment Interval: 12,000mi

Torque Specs from the Manual
Camshaft cover to cylinder head bolds: 10Nm
Camshaft bearing caps to head bolts: 10Nm (these are fragile, too - if you break one they are M6x40 1.00 pitch)
Camshaft oil feed pipe to bearing cap bolts: 8Nm (these banjo bolts are VERY FRAGILE so BE CAREFUL)
Fuel tank mounting bolts: 19Nm
Front seat to mudguard fixing: 26Nm
Rear seat to mudguard fixing: 10Nm

The Procedure
Here's the 'Readers Digest' version of the work involved. (Thanks Greybeard)
1. Remove the battery cover and disconnect the battery.
2. Remove the seat(s). (to get at the tank bolt)
3. Remove the fuel tank.
4. Remove the cam cover.
5. Turn the engine 2 full revolutions, stopping each 1/4
turn to check the valves and noting the clearance.
6. Remove the cams if the valves need adjusting.
7. Remove the shims as needed.
8. Inspect the shims for wear and measure the true thickness.
9. Calculate the required thickness.
10. Install the new shims.
11. Reinstall the cams.
12. Turn the engine over by 1/4's again to make sure of the adjustment.**
13. Reassemble the bike.
14. Start it up and warm up the engine, checking for noise and leaks.**
15. Take a test ride.**

** Anything wrong at these points means doing it all over again, usually for free.

Misc Notes

Tight valves will burn in short order. Very loose valves will eventually pound the cam faces and valve stems out of shape. (Greybeard)

Before you run out and buy all new shims, run the numbers with Dinqua's calculator and see if you reuse some of the old ones in other locations.

Up until now I've never thought of this, but those of us who don't do our own valve adjustments should ask for our old shims back when taking the bike to a dealer to get this done. I know I was charged something like $7.xx for each shim they replaced, and they kept the ones they took out. You have every right to ask for the old shims if you're being charged for new ones. If we get enough people getting their old shims back, we can send them them off to whoever(Pat?), and it wouldn't take long before we'd have a ample supply of every size shim needed. Then Pat, or whoever, could send out the correct size shims to those who need them. (SalMaglie)

Exhaust vs. Intake Camshaft
If you mix up the camshafts, you will damage your valves. Do not underestimate how fragile all these bits are. There is an easy way to tell the difference and it isn't by markings on the sprockets. In the middle of the camshaft there is a raised boss that is either smooth (exhaust) or has a groove cast into it (intake). There is a picture in the manual; I'll try to scan and upload it.

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Last edited by FriarJohn; 02/28/2012 8:14 PM.