while it isnt nice to point fingers---if person assembled this motor can remain unknown hard /priced lesson--- shop i would note for others to avoid this costly mistake hard to see the expence of good parts destroyed by assy. errors like occurred--- oldiron--john
If the prior owner bult it, he has since passed, no need to share names. If he paid someone, we don't know who.
The rest of the engine, to include pushrods, rockers, rod bearings, all are in real nice shape, which tells me they were hitting very lightly and fatigued a valve stem, couldn't have been slamming, although it probably didn't run well either. Whether it could have been heard in an almost open header Cobra, who knows? With modern pistons there is often incredible vertical valve clearance, so it may have been right at the edge, even with radial clearance being known to be bad. Needless to say I have no desire to reassemble incorrectly to see what we already know.
FWIW - The build used Diamond pistons, Eagle H-beams, and I assume an Eagle crank but I haven't got it out yet. It also used Clevite standard rod bearings, not narrowed, which is not standard builder fare although they looked good, even the one that ate a valve.