Just to add a little more info to a very frustrating experience....
As background - I am an experienced mechanic and currently maintain all the mechanicals on my vintage Lola T-342 Formula Ford race car and a couple of other high performance street vehicles. The race engine currently in the Lola FF is one that I built to the exact specifications of my race class. I also have the hand tools (including precision micrometers and dial indicators) required to build and QC an engine. I do all my own mechanical work, other than the machine shop work which I hire out done to my specifications. Having said that I am clearly a novice with the Lincoln's L-head V12 and I am learning on the fly.
At time of purchase, the Lincoln included documentation for an engine-out rebuild of the V12 that was done as part of a gradual but complete body-off restoration that was accomplished over roughly a 15 year period. The running gear, body, paint, interior, chrome and stainless trim, electrics, etc. are extremely well done. This Lincoln is beautiful. Unfortunately I've concluded that the engine "rebuild" either didn't really happen at all (in spite of $10k worth of engine rebuild receipts), or the engine was just slapped together by incompetents.
I began the Lincoln engine project with a simple plan to merely replace the intake manifold gasket, but every disassembly step has pushed me in a little deeper. To list just a few issues, the intake manifold gasket was torn and hanging out the front of the manifold, at least half of the intake manifold bolts were only finger tight, one valve guide retainer was broken off and laying loose in the intake valley allowing one half of the split valve guide to move up and down with the valve, two of the exhaust valve guides were broken in half horizontally (in 4 pieces instead of the normal 2), all 24 lifter bodies are worn flat on the base (absolutely no crown left), 7 or 8 inches of metal wire was found and removed from the water jacket of one head, etc. Cam lobe height measurements that I made indicate that 5 of the 24 intake and exhaust cam lobes are up to 0.010" too low, suggesting cam lobe wear probably related to the wear patterns present on some of the lifter bodies. The measured variation in cam lift was what sparked my previous question of what is the acceptable range in cam lobe height.
On the plus side, It does appear that all 24 hydraulic lifter inserts are in good shape and hold pressure nicely. Also, new aluminum pistons were apparently installed, though the cylinder bore has been greatly enlarged to 3.06", vs the stock 292 cu in 2.875" bore. The condition of the rings and rod and main bearing inserts are unknown at this point.
At a minimum the cam now needs to be removed and probably reground. However, given the identified errors and complete lack of attention to detail in the previous rebuild, I am now questioning the rest of the engine assembly as well. So the original plan to change out the intake manifold gasket has somehow seems to be morphing into an engine-out total disassembly and likely rebuild of the rebuild.
Does anyone know of a reputable Lincoln V12 cam grinder?
Thanks in advance for any advice,
Dave