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The caps should always thread all the way, otherwise they will leak. Try restarting it or switch them and see what happens. The threads on the caps can easily wear, but check the thread of the rocker box, it may have a small burr. Oil will always get to the rockers, they don't need mutch. I always set the clearances on my Bonnevilles at 5 thou. It's better to have a larger gap than no gap at all and burn your valves. Finger tight and back 1 flat gives 10 thou.
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