Breahn, all lapping does is ensure that the valve & the seat have contact all the way around each. 3/16" or the thickness of a dime is what the contact area should be. You also did the lapping the correct way with the sticks.I am going to assume you did remove all the built up carbon from the valve face & stem. When re-installing the valves, hold the valve about 1/2 - 3/4 inchaway from the seats & rock the valve. The 'play should be very minimal, only about 2-3 thou.Allot of play indicates guide work is needed, whether replacement or knurling. You should be all set to go though, because the lapping came out so well.
I install the valve seals before I install the valves. Use fresh oil on the seals, and into the guide so you do not rip the new seals, & push them home slowly & squarley.