Tom,
Personally I think a gap of .210" is a little much. I use a Quarter Master bearing which doesn't have nearly as much maximum travel as the Ram or Howe, so for me, every bit of travel is important. I set my LS7 clutch with about .100" air gap. The LS7 clutch is nice in that the springs don't have to move very far to achieve full release. I am using a .700" MC and have about 2" of pedal travel before the clutch starts to bite.
Since you will have to remove the trans, I would suggest rebuilding the Ram bearing, if a rebuild kit is available, and reducing your gap to about .100-.125"
Andrew
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