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The valve stems will fit in some modern grinders so you can re-do the face, and the lifters will need to be re-ground to set the tappet clearence.
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From memory it's the valve stems which need to be ground, not the lifters. Some of the later (8BA) engines had adjusters in the lifters which were always sought after as they saved a lot of fiddly work. Not sure whether they fit the 21 stud though.
When removing the valves the guides should come out as a complete unit. There's a special tool to disassemble this unit too.