Spinning the pushrod has nothing to do with anything - unless one just likes spinning pushrods....
Preload can be measured with a dial indicator -- but the reason the proper pedestal (and that's the proper spelling of that word) installation procedure involves counting the number of turns of the bolt until the proper torque is reached (between 1/4 and 1 turn) is because that translates based on the thread pitch of the pedestal bolt to the proper amount of lifter preload.
It's easy -- there is only adjustability via shim to account for pushrods that are too long. If they're too short, you have to buy new pushrods. Put the lifter on the base circle of the cam for the rocker you're installing. Tighten the rocker bolt with one hand while rocking the rocker with the other. Stop tightening when you've just barely gotten to the point that the rocker won't rock because there's no gap on either side -- you've reached 'zero lash'. At that point put your torque wrench on the bolt and tighten to 18-20 ft-lbs. while simultaneously counting the number of turns of the bolt it takes to reach that torque -- again, START YOUR TORQUING/COUNTING AT ZERO LASH. If it reaches the specified torque within 1/4 to 1 turn, you're done, and pre-load is in a reasonable range. If it takes more than 1 full turn to reach the torque, then your pushrod is too long and you can shim the rocker up -- each .030" shim reduces the number of turns by about 1/4. So, if it took you 1 1/2 turns, you're likely gonna need at least .060" worth of shim to get the rocker high enough to work with that pushrod. If it takes less than 1/4 turn, or you can't reach zero lash at all, then your pushrods are too short and the only solution is buying longer pushrods.
All this procedure does is assure you have the correct pushrod length to be able to set lifter pre-load appropriately. It has absolutely nothing to do with establishing optimum valvetrain geometry.
If you want to do that, go to
www.mid-lift.com and study up. With pedestal or stud mount rockers, if the contact tip isn't pretty close to being centered over the valve stem tip -- there's not a lot you can do short of repositioning the holes in the head where the studs/bolts screw in. As for achieving maxium lift at the valve relative to the what the cam's trying to achieve -- you have to play with the height of the rocker and the way it arcs through contact with the valve. Most pedestal set ups will have to have the rocker arm raised up quite a bit to achieve optimum. You can play with this simply by putting your dial indicator over the valve stem end of the rocker, installing an adjustable pushrod, and playing with shims under the rocker arm. Simply adjust the height until you're achieving the maximum peak lift at the valve that you can. You might have to raise the pedestal at tenth or two to achieve optimum lift at the valve - that will require custom shims to go UNDER the rocker channel, as well as custom length pushrods.
For what this guy wants to accomplish -- just follow the installation procedure above. And please, everyone, forget everything you ever heard about twisting pushrods. It has nothing to do with anything.