One-eighth turn on OE lifters is a little shallow for the factory valvetrain. But, no "clickity-click" means you did good! If the valves become noisy, readjust for 1/2 turn down from zero lash; GM specifies 3/4 turn.
With a factory grind, hydraulic lifters won't 'pump up' and hold a valve open unless the engine over revs and floats a valve, a valve spring breaks, or the lifter is adjusted to preload the valve (hold it off its seat) by bottoming out the lifter's internal piston, effectively making it a solid lifter.