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IIRC, if you went to set clearances at TDC there wouldn't be any clearance at all, beast the valves would be in overlap. You guys will have to trust me that each cylinder was at its TDC on the compression stroke when the clearances were set.
I assume he meant the wrong TDC, when the valves are in overlap.
Finding peak lift then turning the crankshaft one full turn will put the cam where it needs to be for each valve adjustment.
Guzziology mentions the possibility of a groove the width of the valve stem being worn into the rocker arm surface , so the feeler gage bridges the worn area and measures from unworn area of rocker arm to valve stem , allowing a wider gap than intended . I have no personal experience with this , but it seems possible .Also , my info indicates .009" clearance both in and exhaust for the T-3 . That's what it was when I got it , so I did not question it . Is that wrong ?
I may soon just swap out push rods and rockers and shafts with others that I have, just to see what happens. Oy Vay!