I ran the TFS stage 2 with the TFS track heat heads on a stock 90 5.0 short block, installed straight up. I checked P/V and there was enough. Almost a quarter inch on the exhaust side, and although it was a while ago, I think it was about .120" on the intake side. Most guys suggest a minimum of .100" on exhaust and .080" on intake, but with hydraulic rollers I prefer .100" on intake to be safe. I think the stage 2 cam is close to as big as you can run without flycutting, but mine fit and worked fine.
With a cam that is approaching the limit though, you should always check it yourself. I recommend using old precompressed head gaskets, and checking at least one cylinder on each bank because it it common for clearance to differ from bank to bank, and sometimes from the front to the back of each bank.
I would also suggest the track heat heads with the stage 2 cam because of the better spring set that comes with them.
Good luck.
-Matthew