You know why there is plunger travel at all right? It's for machining tolerances and long term wear in the motor. So best case scenario, is the least amount of preload that it will be happy with. I'd go 1/2-3/4 ( or less if high rpm was a concern.They are 3/8", 24 tpi, ie 1 full turn = 0.0417", so our 3/4 turn is only 0.03125", so well short of being mid-way thru the lifter plunger's travel
Or go with the comp pro- magnum lifter. You set those at .002 ~.004 hot.