The reason for using the .050 spec is that get's you past the movement off the seat as most cam companies have varying ways to control the valve when it begins moving. It is less exact, and if you have an assymetric ramp the numbers will change, but it rules out the take up ramps.
I simply used the figure noted earlier in the post somewhere. No clue if that's right for this cam.I would expect a typical 292 type cam to have an intake closing point at .050 to be a bit later than 38. Probably closer to 55-60.