hmm - = me no agree on dat!
When valves get too tight they stay open all the time. This typically makes them very quiet.
However, Staying open leads to other issues, missing, misfire, burned valves, loss of power, shaking, poor idle, bad mileage to name a few. . . .
Did you follow the procdure for checking them where you rotate the engine through to point the lobe up and away from the lifter bucket?
It does take special tools; feeler gauge to measure them and a micrometer to measure the shim once removed.
Do a search for "lifter, tappet, valve adjust, 1MZ, 73sport" you should find a post of mine on that topic.
Was this engine well cared for or did it mis oil changes throughout its life?
Edit: formula is just math to determine the desired clearance if out of spec.
Actual vs desired then look it up in the Toyo chart:
http://camrystuff.com/index.php?page=Gen3_Manuals
5S-FE Engine (I4) (18.00MB)
1MZ-FE Engine (V6) (24.92MB)