Hey Stew, thank you for the explanations. I have a belt sander I can use to do exactly what you said. I have a minor update but I did run into an issue and I am not sure if this is going to cause me any trouble.
Let start off with everything going well. Guides came out and right back in without any issues. I was able to pull them out without removing the tappets. The driver tool I bought is a snug fit into the valve guide holes but with some pliers and a piece of wood, slid right out.
New guides in!!!
Here is where the trouble begins. After lapping the intake side, I did the exhaust side which I discovered that the seat might be a little oblong. I first hit it with the fine grit but I wasn't touching this area.
So I started hitting it with the coarse grit until the grinding compound started touching it. Around the seat the polish is completely gone but in that area, there is still just a tad bit of polish on it. Its more like opaque. I stopped because the valve steam is now touching the whole seat. Should I continue till it looks the same all the way around or would this be enough?
Hard to photograph the details but I hope you can kind of make out what it looks like. You can still see a little bit of reflection on it.
The other sides of the seat you can tell that the reflection is completely gone where the valve touches. You can compare it to the little right on top that is still polished.
The exhaust valve stem with its brand new lapped ring. I believe it might have been new because there was no ring on it before.
And this is how it sits on the seat. Tomorrow I will gauge out the size of that gap.
I also went ahead and took readings on both valves to tappet clearance. For the intake I got between 0.006"-0.0065" which I guess is pretty much on the spot. Manual calls out for 0.006". And the exhaust I got between 0.004" -0.0045". This one needs to be put at 0.012".
That is all I got for today.
Thanks again for looking and I appreciate everybody's help.