I'm upgrading my cam and installing new hydraulic roller lifters. Is there anything that has to be done to the new lifters before they're installed? Does it matter in what direction the vent hole is located? Thanks
Yes, you need to lube them up with some assembly lube and the soaking them in some oil (or atleast dipping them in oil) before installing them is a good idea.
I put the "holes" pointing the same direction that they came out.