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This is just my opinion, for a first time and for one time I think its best
to have the heads done. And then it also depends on the condition of
the seats they can be cleaned up by hand but that a case of beer job.
Back when a teen I even welded a stud on a valve with sand paper
turned with a drill. And then you will need deep pockets for the real
set up. Example back when I paid about $700 for a used Snap On
being all degree grinding stones a diamond dresser a set of guide
stems- came with flathead valve stem, electric drive motor, and a set
of mandrels. And thats if you can even find one. For valve facing I do
that on a lathe. As far as I know nobody hand laps any more another
lost art.
It is a bit more then a backyard job. Granted, if you have a grinder for the valves and stones/arbors for the seats, more power to you.
If you just want to lap them in, you can buy a tool(or just use your hands) and work at them. Won't fix bad problems, but might remove a minor imperfection.
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