Are you sure the cam lobe is good? I would personally be putting an indicator on it and determining if the lobe is worn.

The way I set the preload is rotating the pushrod till the slightest drag is felt and then go the prescribed turn. I usually do it 2 or 3 times to ensure I get the same result - I look at the position of the allen wrench to determine if the results match. So I don't think it matters if the lifter is pumped up but I have heard others say it does.