how much windage tray clearance

iv just come in from the garage after installing the milodin tray...its cold out there..anyway iv looked at all close points and dont know exactly how much clearance i need. the closest spot is rod bolts near the louvers for drainage..approximately 1/16 to 3/32 of an inch is that too close....any higher off the caps and it hits the oil pickup tube and or the oil pump body..any thots on this ...tx..j