Quote:
Originally Posted by spray2020
Main problem with the car is the poor single cam is making a tapping noise
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I can almost guarantee that broken timing guides are causing the tapping noise. Every single cam I have ever owned has had this issue. What happens is the main guide breaks and the bits get in the oil pan and clog the oil pickup. This causes low oil pressure which causes the lifters to tap.
Pull the valve cover and take a peek, I would bet a decent amount of money that the main guide is completely gone.
As for the other issues, it is very possible that timing could have jumped a tooth which is why it isn't revving past 2k. If the guides broken there is a good chance the previous owner ran the car with low oil pressure for awhile which can lead to all sorts of problems including knock though.