Refer to my other post for my initial problems. Just drove her around for a few miles, and the "noise" has definetly subsided. Now it's just the valves clattering away. I ground down the "hidden" timing chain cover bolt that's under the distributor drive gear. There was definate contact there. Now it's decision time about the rocker arms and cam. I have 300,000 miles on this engine and need to decide about a new cam and rockers. The tippets are hourglassed severly and I can't maintain my clearances. The cam doesn't appear to be in that bad of shape, but after all these miles? What do you guys think?

I would just replace the adjusting screws in the rocker arms first.

yeah, I wouldn't mind getting a little more power out of her. Compressions are in the 180's and one 190. The engine only burns oil when the oil gets dirty. It's a really tight smooth running little motor, except for the clattering valves.

So was the hidden bolt causing all the clattering, or do you think tightening the tensioner to spec did the trick?

I'm thinking it's a combination of the bolt rub, repostioning of the guides, and retorquing the tensioner. Thanks everyone! Just for the record, the kit from LCEngineering was outstanding. A little pricey, but they do have quality stuff.