sounds like it's coming from #1 area, it could be the distributor anyone know if this is harmful after awhile or is it typical excessive-wise?

 

Valves getting out of tolerance is typical, especially if you are taking your engine upto redline frequently. Overall it's not ideal for the engine, but having them out of specs for awhile won't kill you. Here's a link for how to adjust the valves- really easy procedure. GL.
Valve adjustment B series