Thanks for your comments.
As the valve lash decreases valve does not contact the seat (which is cooled by the water jacket and is relatively cool compared to the gas temperature and the valve temperature) long enough to transfer the correct ammount of heat to the cooling jacket and it thus operates at a higher temperature then when it has seat contact for the correct increment of time.This causes increased material oxidation due to higher valve operating temperatures. This is the point I was refering to and it can lead to the edge of the valve "burning out" but over a much longer time period of time.
As the lash gets small enough and the valve leaks, it is now subjected to peak gas temperatures and that is what causes a rapid burn out. This was your point , I believe, and I don't disagree. It's just that you don't want to get there if you can help it.
There are other ways of burning out an exhaust valve with the entire valve train being at spec. This applies to spark ignition engines. Operating with a too lean a mixture so as not to have any charge cooling due to fuel evaporation and/or operating with light detonation. In these cases the peak gas temperatures are greatly increased and the higher exhaust temperatures increase valve material oxidation and cause the valve to burn rapidly.
I wasn't trying to give a disertation about valve life. My point was when adjusting the valves, if you err err, on the side of increased lash so as to prolong valve life.