I'm so sorry to wake you up from whatever life stage you are now at - you asked this question 16 years ago and I have only just spotted it. But someone else awakened it, so I'll answer for the benefit of anyone else looking in.Is there any merit in my removing the cams one at a time - I was thinking of using a cable tie to lock the cam chain to the inlet cam wheel (so as to ensure the chain does not move in relation to the wheel) then removing the exhaust cam, doing the shim change and then repeating the process for the inlet cam?
Also, how critical is it to use the Honda sealant (or similar) on the cam covers when refitting them?
Using cable ties (or something) is an excellent idea to keep the chain from dropping into the depths.
But it is not a good idea to rely on the cable tie to keep the timing position. This is because in order to get the camshaft off, the chain has to be slack which measn that the shaft being removed will create a lot more slack. The chain loops around both cams and also around a sprocket which is half the size down in the depths. Much depends on how you manage this slack, and how you mark the camshaft / chain position when you put it back. It is possible to have the chain looped round the bottom sprocket with teeth engaged on the down side and engaged with the teeth on the up side, not engaged around the bottom of the small sprocket - it has formed a loop.
You will not notice this while the chain guide is off, but you will when you try to tighten it all up. Possible after the marker cable ties have been removed.
Use the cable ties by all means - but you should still check the timing marks when the T marks are aligned through the spy hole.
Sealant - it not necessary at all around the flat part of the camshaft cover lid. Bu it must be placed where the half moon shape forms an angle of 90 degrees. I use sealant all aroun the curev of the half moon, on the 90 degree corner and part way along the flat near the moon. That junction has no pressure on it, and it WILL leak oil over the front of your crankcase.