There's a diagram on the valve adjustment sequence for your engine in the referenced Tom Monroe book. If someone would be so kind as to post it (I don't have my copy handy), that's what you need. With non-adjustible studs, all you're doing is following the sequence to adjust lifter preload. If not:

V8s fire every 90 degrees. I've used a string to measure the the diameter of the balancer, divided it into four sections, or 90 degrees for each mark I make on the balancer, with the timing mark as a mark. Starting at TDC on #1, adjust the valves on that cylinder. Then rotate the engine (breaker bar on dampner nut) 90 degrees to the next mark, which should be the next cylinder in your firing order. And so on. Making absolutely sure you find #1 on the combustion stroke is important. I have a fuel fitting the same size as a spark plug thread I plug into #1 cylinder. I slip a 2' length of fuel line hose over that, turn the engine with the breaker bar while watching the distributor rotor point to #1 and hear the air being expelled from #1.

If you're going to keep the engine, buy a $30 set of Crane Kool Nuts or other brand. They replace your stock rocker arm nuts and, with an Allen screw in the nut, give you an adjustible valve train to accurately adjust lifter preload.