If you graph the valve events in relation to TDC and each other, you can see that TDC is not a very good guide for setting valve lash. The Ford/Motors Manual method works, barely, for stock cams; it does not work well with hot rod cams.
A recipe that works for all engines and cams is:
Set exhaust when same cylinder's intake just starts to open. Set intake when same cylinder's exhaust just closes.
This will go into a future column in the V8 Times.

From JWL:

For those who have trouble remembering the intake opening, exhaust closing method, just get the valve opened to maximum lift, and then rotate the crankshaft exactly one turn. The lifter for that valve is now on the heel of the cam.

From 48Al: (21SEP01), some further clarification,

Please don`t take this the wrong way, but some of the less experienced guys (and gals) may not be able to get it the way Red H. posted. "set exhaust when same cylinder`s intake just starts to open. Set intake when same cylinder`s exhaust just closes." this puts the valves in the overlap position. should be " set Intake when same cylinder`s Exhaust starts to open. Set Exhaust when Intake just closes." this way the lifter is on the heel of the cam for proper adjustment.

PS: Almost a no brainer but don`t forget to turn the crank CW facing the front of the engine. a small transposition of words can be very confusing.......