So are you saying that it made this noise before you did the valve job? You may want to look at the bottom end and timing chain/gears etc.
I know that 258's have hydraulic lifters but have never done an initial setup of new lifters on a 258. Chevy's, Mopars, yes, AMC, NO.... Don't you have a Chiltons or Haynes?
85 CJ7 4.0L/SM465/Dana300/AMC20/Dana30, MPFI,154K miles - 33" 12.5's Pro Comp MT's, one piece axles, Detroit Softlocker rear, Lock Rite front, Warn Hubs, 4.56 R&P, 4" BDS lift, Warn x8000i, Warn winch guard, Hi-Lift, Tuffy console, Four X Dr. rocker guards, Rock Hard sport cage, Kilby OBA with 1.75 gal tank and York 10.3cc compressor, Tube fenders by GenRight Offroad, Fabricated rear bumper and tire carrier.