Okay, I did the multiplication wrong for the lift in my last post, and GHG gave the correct lift figure at TDC of .131" including the rocker ratio.
So, since the GT and UCE heads being the same, and GHG says 5mm(.198") free drop on a Bullet, that means .067" clearance around TDC.
Now, let's look at the valve being about .050" larger than a 500 valve, and figure a worst case of half that in your situation. Take .025" off your clearance margin, for a new figure of . .042" clearance around TDC.
And let's figure in another .020" lift in case piston dwell allows a little more lift on the valve before it starts going down. So, that takes clearance down to .022".
But, we have .040" crushed head gasket clearance with the head on, so we can add that back to the clearance margin, and get .062" which is the correct suggested clearance safety margin for an intake valve.
Remove .039"(1mm) for the 1mm clearance regimen that they use for timing specification, and get .023" for clearance. This is too small, but it won't hit the piston.
BTW , the reason Hitchcocks specified the cam timing at 1mm clearance is to simulate the timing figures at .040"(mm) which is the metric standard that is used in place of the US standard of valve timing specs at .050". Just a convention of measurement.
So, I concur with GHG to run a clay test to see actual clearance. What I would do first is put all the new parts in and do a very slow and careful rotation of the engine over TDC, and if you feel any resistance happen, like a valve touching, then back it off to relieve the touching. Then you know it touches. If it doesn't touch, the you have at least some amount of clearance.
You could put a clay disc that is .060" thick on the piston in the location where the intake valve will be closest. Put the head back on and turn the engine over TDC on the intake stroke. If there is no mark in the clay, you are good to go. If there is a mark, you need to measure how deep in the clay that the mark is.
In reality, rocker ratio is rarely as advertised. It is probably less.
If you run into a problem, just carefully grind a clearance relief into the piston where the valve would touch. Make it just deep enough to give .060" clearance, which is the accepted clearance safety margin for intake valves.
Always make pushrods preload less than the safety clearance margin, so if the lifters pump up from valve float, they cannot be pushed up enough to make the valve hit the piston.