your lift with the 1.6 rockers on a .480 cam could be as high as.520,....small block 340/360 with stock flat tops are limited to about .490 max before getting seriously close to piston/valve interference,....depending on how much you may have decked off the block, or milled off the heads, I sure you'll be well under .100 piston to valve clearance, even with the smaller stock 1.88 intake valves,.....if you decide to go 1.6 rockers, do a clay mock up of a few cylinders to see what your piston to valve clearance is,...head gasket choice can affect installed height also, so weigh all these factors into the math,...IMHO I wouldn't want to see anything less than .080 clearance between the piston to valve....