[Mr Jody]

John – I have a Ford Tractor operator’s manual that is identified as being for models 231, 335, 420, 515, 531, 532, and 535. I believe the 545 has an engine very similar to the 535. This manual may have preceded the 545, but since it identifies only this one setting for the whole series of tractors that it covers, then I would like to think that it would be a good number for the 545, unless the later model engine that you are working with is significantly different.
It specifies the settings as:

Intake……………….0.014 in. go ---- 0.016 in. no go
Exhaust…………….0.017 in. go ---- 0.019 in. no go

It does not specify if this is cold or hot, but I believe this is for cold, as I checked two manuals I have for some three cylinder Massey-Ferguson tractors (135; and 255, 265, 275 series) with somewhat similar size engines to the Ford, and the clearances for these are:

Hot - Intake and Exhaust….. 0.010” hot for both tractors
Cold – Intake and Exhaust…… 0.012” and 0.015” for the 135 and 255 series respectively

The above numbers for the Ford are more in line with the cold settings here, and I think the Ford manual would specify if they were to be set when hot. Hope this helps ease your mind with the settings you made. - Jody