273 Valve Adjustment Questions

Well I'm checking the valves on the 273 in my 64 Cuda,
as it's developed a knocking noise from the #1 cylinder.

I've never done a valve adjustment before on a car engine (plenty on 4 stroke dirtbikes though) so I have a couple (maybe stupid!?) questions.

Here's a picture of the engine w/ the valve cover off:



My first question is which is the intake and which is the exhaust valve for each cylinder?

Also, what are the adjustment specs for intake and exhaust on a 273?

I found this article at EarlyCuda.org:
http://www.earlycuda.org/tech/valves.htm

Saying to adjust them with the engine running? Is that true?

Well I'm headed off to napa to get some new valve cover gaskets and a new feeler gauge.
Any help on this will be much appreciated!

Evan