Here is what I have learned:
1. Valve Train Noise is louder when engine is fully heat soaked.
2. Noise is more pronounced with older oil, and more so again with some 20w50 synthetics, less so with Dino.
3. Not all bikes exhibit noise.
4. Sometimes is is a combination of all four valve trains, creating a sewing machine like noise, sometimes it is a single (front exhaust) that clicks.
A. When the noise is most prominent, take a motor stethoscope and see if you can pin it down to a single valve train.
B. If it is a single valve train, is it located near the top of the tube, or the bottom?
---1) If near the top, might be a pushrod hitting the tube. Might fix by rotating top of tube, or reaming it out, or taking valve cover off and adjusting the rocker arm away from center of motor.
---2) If near the bottom, might be a sticking or failing lifter. Remove and replace.
C. If it sounds like all four valve trains sound similar, it is just the nature of the beast. Some are trying an automotive oil from Germany -LiquiMoly 10W60- with some luck.
D. Most serious repair is to have the heads done, with premium valve components and premium lifters such as S&S.
I'm no mechanic, no expert, but I have read many hundreds of threads on this topic. In many cases, folks live with the noise, amplified as it is by the batwing fairing or the RoadGlide fairing. Seems you never hear complaints from bikes with no fairing or large windshield.
Routine, always there valve train noise does not seem to herald pending failure. But the lifters (and some other valve components at a lesser rate), are failing at an early mileage mark, sometimes as early as 7000 miles. Do the lifters with 850-1's or S&S Premium and rule out that early failure point.
I hope this helps..
Greg