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You technically only need compression releases when you have compression at 10 or higher. If you are close to 10, say like 9.8:1 it wouldn't hurt to use them as it helps save your starter. If you are down around 9.5 or so I wouldn't bother. Yes you would need one for each cylinder. Choice is yours if you want manual or not. If you're replacing cams, I would definitely replace the inner bearings with Torrington B168's. At 20k your lifters should be fine. There is a school of thought about lifters and cam lobes wearing in conjuction with each other and I know folks that do put new lifters in anytime a new cam goes in. If you were closer to 40k I'd say swap the lifters, but you should be ok.
cold crank compression is a factor as well. So is the atmosphere as to where someone lives to an extent (i.e. heat) I was stating for a general rule as compression at 10. You brought up a good point though. If you have ccp at 190-195 you could probably get away without the releases, but consider hot restarts and whatnot. Cheaper insurance to install them up front than to replace broken chit later on.
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