To calculate the change in peak lift, you simply use the ratio of the rockers. 1.7/1.6=1.0625. Multiply 1.0625 times the peak lift with the 1.6 rockers and you have your new peak lift. The .03" mentioned above is an approximation that works with cams that have 1.6 valve lift in the .48-.500 range. The B cam (.480" peak) goes to .510". The E cam (.498" peak) goes to .529".
Ford Racing's tech line suggested to me that with either the B or E cam, their Y or X heads, 1.7 rockers and stock pistons that p to v should be measured. With Y heads, stock pistons, E cam and 1.7's I had .110" intake clearance (min - .080") and .210" exhaust clearance (min - .100"). Plenty in my case - but each engine/component is dimensionally slightly different. If you already have the motor running without problems, and you want to make the swap, you shouldn't have any clearance issues. The rockers only reduce p to v about .005" with the E cam.