I'm not aware of any historical evidence of the LC8 engine ending with no clearance when hot if the cold clearances are at the lower tolerance, but it's always good practice to set them to the upper tolerance when adjusting - shimmed clearances only ever reduce over time due to valve seat wear and valve stem stretch so if you go to the top end of the clearance range, you'll get the longest time before they have to be changed again, and potentially go under-size which could lead to valve seat burning issues.
As folk of my Dad's era say, "a noisy tappet is a happy tappet"...