you dont need clay. use a dial indicator, its way more accurate. thats what i did.
i dont remember exactly how i locked the rockers to ride the vtec lobe, but IIRC i stuck a BB or small piece of plastic behind the pin that locks the rockers together. this keep the pin extended into the vtec rocker so it rides that lobe on the cam.
what i did was basically:
lock VTEC rocker
mock up the engine, install pistons, head, cams/gears, HG, TB. put bottom end at TDC, loosen all cam gear bolts so you can move them independently of the gears.
advance intake cam until you feel the valve make contact with the piston (GO SLOW!!!)
set dial indicator to zero and mount to valvestem
back off the cam to your desired minimum clearance. note the amount of degrees on the cam gear, thats the max setting you can run safely on your cam gear.
do the same for the exhaust cam
its been so long since i did this so i might have advance/retard backwards. also i think i use .030"/.040" int/ext as my p2v clearances, but that could be wrong too. ill have to see if i can dig up a post. im sure i made one at some point