Acceptible clearance for intake shims: .006" - .010" (.15mm - .25mm)
Acceptable clearance for exhaust shims: .008" - .012" (.20mm - .30mm)
Acceptable lobe measurement details are here:
http://www.cygnusx1.net/Supra/Librar...aspx?S=EM&P=48
You are a good amount off, but it's hard to say given just the clearance with cam clocked away from the valve... you need to measure both clearances and the lobes for an accurate picture... for now check the cam lobes for signs of excessive wear or marring.
While you're in there you might as well pull the shims and buckets and check to make sure a keeper didn't come out and then re-shim to the proper clearances.
Another common cause of tension due to ticking are the injectors... some injectors are just plain loud. Hard to be entirely sure until you listen to everything with a stethoscope though.