In Stock Eliminator Chevrolet motors, .050" intake and .080" exhausts are considered OK. The exhaust stays open until the last possible instant to achieve maximum scavenging of exhaust gases,then it shuts very quickly. The intake starts to open before TDC so that when the pressure drop in the cylinder starts, it can achieve air flow as soon as possible. Very little air flow occurs below .050" lift on either valve,so that is why a legal camshaft has the rather brutal profile they have. The window area of the cam(the time that air flow occurs) has to be maximized for maximum air flow and horsepower to be achieved. In a more normal application, and where there isn't a constraint on valve lift, the cam lobe profile is much more gentle, so the engine is more streetable.As long as you aren't running it so hard as to get into valve float, there should be no problems with piston to valve clearance issues. Make sure you have adequate valve spring pressures to prevent this. The more brutal the cam,the more spring pressure you need.