First thing you need to do is degree the cam to where your going to run it.
You can grind the bolts at the heads a minimum amount to get .050 clearance. It will not hurt the balance.
As a tech tip i use a black tie wrap that is about .055" thick to check my clearance. It is soft enough that if you get a little carried away while rotating the engine over and you pinch it, it will not hurt anything.