In college we got to watch video of a race car engine valvetrain while running a hot lap. The problem wasn't valve float, it's valve bounce. The valves would literally bounce off of the valve seats multiple times when they would close. They would actually never stay fully close before they were being opened again. You could see when they would be opened by what appeared to be spaghetti noodles (the pushrods would bend and wobble) and then you could see the valve bouncing multiple times before the spaghetti noodle would open the valve again. It was pretty amazing to watch and even more amazing to think that these things can hold together for more than 30 seconds.
Now, those are engines running over 2x the rpms we are running, but they are also running a lot higher spring pressures than we are too. So I wouldn't put it past, especially a seasoned or worn valve spring, to allow the valves to bounce off of the seat enough for it to "kiss" the piston. No doubt it is possible to do that while running a regrind with steeper lobes, 1.6 rockers that create even more dramatic lifts and drops of the valves and already tight clearances.
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