From what I understand most newer engines that use shims for adjustment should hold their settings for a long time, possibly the life of the car. I've heard this specifically about the V8 Toyotas, in particular.
Older cars often had screw-and-locknut adjusters that needed looking at every 10-20k, but it was an easier, quicker job.
Having adjustable valves has some advantages as there are no hydraulics needed to keep the clearances set. The hydraulics have their own problems. "Collapsed lifters," or "ticking lifters" seems to be one of the most common maladies for just about any American V8 engine as far as I can tell. I know little about those engines, I just see it being talked about a lot.