Re: ticking - no knock, just annoying.
Look if you have comp 875 lifters do not go more than 1/8 turn past zero lash, who built the motor or was this a head change? Did they or you check for coil bind? With your 1.6 rockers your looking at .534 lift. Did they or you check your push rod hole clearance in the head, it is possible they are rubbing causing problems too. I guess it is time to visit America again, bring your truck over, there is allot of help over here. I will be doing a head job on a truck soon and your welcome to check it out.
The build was done by a reputable guy in the UK. The heads came preassembled from RPM. I didn't check for coil bind but other people have my combo and I haven't seen any reports of problems.
I know that doesn't make it right.
When I assembled the heads and the valve train, there looked to be plenty of clearance. I didn't measure anything although I could see no evidence of the push rods hitting the guide holes or any other contacts It is something I guess I will have to check.
I am almost positive that one or two of the pre loads was past 1/8 of a turn so I will do that first. Wouldn't that make it too tight, rather than too loose and thus causing a noise?
I would love to come over there - I have a plan to end up in the US eventually.

Whereabouts are you? There are still a few states I haven't visited.
Did we meet at NATS?
Didn't you mention in another thread about giving the 875's 3/4 turn after zero lash? Could too much lifter preload have something to do with the noise?
I am concerned that too much pre load initially caused the collapse of one or more lifters so now it/they don't function correctly. That is the worst case scenario. If it is a simple case of backing off the lifters then I am set.
I don't see how it could be too little load as the lifters should now be pumped up and any slack in the system should have gone.
So I am still thinking collapsed lifters at this point. If I am pessimistic then I won't be disappointed.
I guess until I get my hands on the truck I won't know. I have ordered gaskets to take the lower intake off and I can get some new 875s as well. I'll check all the valve geometry at the same time and report back on the evening of 23 Dec.
Thanks for all the ideas and support guys.