max valve lift is irrelevant in piston to valve clearance, its all in the timing events. Remember the piston is well down the bore when the intake valve is at max lift. I would always check clearances even if god told me otherwise, no shame in it whatsoever. Plus if you have never done it, its a good learning experience.
I'm not an engine spec pro, but I was reading 5.0 Mag yesteday and someone asked a similar question in the mailbag section. The answer said that the maximum lift with stock pistons is 0.544.