It really isn't that hard.
Take out the plug 'cause it's much easier and more exact turning the engine without compression.
On the left side cover unscrew both the small timing hole plug screw at the top and the big center cover screw - be careful, it is plastic. Use a very wide screwdriver or a large coin with a pliers.
Take off the intake valve cover plate.
Turn the crankshaft with a 19mm socket wrench counterclockwise until you see the second of the two timing marks on the edge of the flywheel. The first of the two is for the strobelight, showing the proper 3º BTDC for the pickup.
This being a 4 stroke, it obviously has two TDC, one with open valves and one with closed.
Obviously you want the TDC with closed valves, so watch that the intake valves have closed when the piston is up. You can of course check this with a long thin screwdriver or allen wrench thru the plug hole, but the mark in the flywheel is for the purpose and more accurate.
The rockerarms should now wiggle a bit.
- Yamaha workshop manual
This should equate (if I did my math right) to
0.004" in and
0.006" out.
You need a 10mm box wrench for the lock nuts and 4mm openend (spanner for the Brits) for the screw itself.
Here is a special set for the purpose:
http://www.motionpro.com/motorcycle/partno/08-0073/Double-check the left and middle tolerances 'cause this is a single forked rockerarm.
When this is done, remove the round covers from the exhaust valves (19mm box wrench). You do not need to remove anything (radiator etc.) to do this.
Check first with your finger that the rocker arm has play. Compare how that feels to how the previously adjusted intake valves feel. It should be a tiny bit more.
If it feels that way, leave well enuf alone and close back up.
If it is way off, you'll need to drop the radiator but leaving attached to its hoses so that you can actually get at the screws. I "dediated" a short straight box wrench specifically for this by bending it up until it was an easy fit.
Put the rear cover back on and the two plugs and the sparkplug.
Done.
Unless someone has been really messing around, it is rarely necessary to actually reset the valves. Not in 10000km, not in 20000, either.
Practice getting the feel of the properly adjusted valve and then periodically give the exhausts a "feel up." If any valve needs setting, it will be an exhaust valve.
Doesn't take more than 10 min. including the hassle of removing the tank.