Valve clearance is a dynamic changing all the time , the piston is chasing the exhaust valve upward , total lift means nothing , it is a variable between lift & duration , the longer the duration the later the exhaust valve closes as the piston is rising towards it or earlier the intake will open as the piston is moving away so even if you roll the engine over with the current cam knowing the lift you may have plenty of clearance but a similar lift cam with longer duration may be tight for clearance , the Only way to know for sure is install the cam & turn it over using putty , , the closest point may be roughly 6* before TDC between the piston & exhaust valve or 6-10* after TDC as the intake is opening as it chases the piston down the bore . If you change the installed centerline of cam by degreeing it in advanced or retarded the clearance may go away also . The overlap in the cam is created by closing the exhaust valve late & opening the intake early , the exhaust & intake valves are actually open over TDC allowing the exiting exhaust to create a vacuum & pulling in the intake charge , it is actually more effective at filling the cylinder than the piston moving down the bore with a longer duration cam @ higher rpm