My original Vortec engine had around .525 total lift with the 1.6 rockers, I never had to elongate any holes, and pushrods weren't an issue. However, I found out real quick about breaking springs, and blowing seals.
I ended up having the retainers shaved down about .010 and that took care of it. I used a set of Crane LT1 springs with the inner spring removed, and never had any more problems.
Then I ditched it all and built a 383 stroker with Etec 200 heads.