Oldmics

Paul.  You’re right in that when the lobe lift is supplied, simply measure the lobe lift by the rocker ratio for the gross valve lift.  And be cognizant that actual lift at the valve (net lift) will be the gross lift minus the valve lash.  But also be wary of the gross lift figures on a spec card if the rocker ratio is not supplied.  Different cam manufacturers use varying rocker ratios for the Y so just know up front what rocker ratio a particular manufacturer is using if the lobe lift is not supplied.

And as Oldmics mentions, make sure you know what rocker ratio you actually are dealing with as the factory rockers are not spot on and especially if the pushrod lengths are being varied.

      It's fairly simple to measure the cam, should you question the Mfr. Measure the across the base of the cam and then the lobe, subtract the difference and you'll have cam lift. You can also set it up on V blocks and measure it directly with a depth gage.  

Here are links to the articles that were originally published in the Y-Block Magazine regarding both the rocker arm geometry and rocker ratio variability for the Y.  These will help to explain why the lift at the valve can vary even though the lobe lift and rocker ratio is per specification.

Y Block Magazine Rocker Arm Geometry

Y Block Magazine Rocker Ratio Variability

         In a nutshell, yes. But don't expect a hundred HP. Strictly by the numbers, and remember the rockers vary from one to the next, .350 with 1.46's increases to .369 with the 1.54's. You'll also gain one or two degrees of effective duration. That's why Ted told you about the torque gain.