When I read discussions about neck relief and truss rod adjustments, I feel I should bring something up I feel might save some major headaches from either stripped TRod nuts,, T rod breaks, and all manner of potential OOPs moments when attempting to make a neck good and flat.
I believe the real function of a truss rod is to keep the neck stable and straight rather than to take out large bows in them. So, if one has a fairly large bow in their neck to a point such as it seems Ray's Peavey is, I hear it is better to put your neck in a jig and basically use clamps to take out the bow and then adjust the nut on the T rod to hold the neck straight. If the neck is close and just needs a smidge of adjustment to make it straight, then small turns of the T rod nut should be fine to bring it into spec.
If anyone else has tips and hints regarding neck stability before/during/ after adjustment please feel free to enlighten me. I kind of always saw mention of making small adjustments, then give the neck time to settle in. Then if still need be, make another small adjustment and let sit. Basically don't over do it and force a neck straight, using the T rod.