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dPorsche74 perhaps I can help with the VareoCam pad change. I am actually in the process or re-assembling and doing updates to my engine (installing new IMSB cylindrical bearing type) since my original IMSB was very wobbly and the inside of the shaft looked like someone had dumper a handful of silver gliter inside with some grease. I removed the IMSB, motor and tranny to complete multiple tasks that I wanted to do. My issue was similar ticking noise, also plastic bits in the oil pan (which turned out to be chewed up IMS chain tension paddle, VareoCam chain tensioner pad bits both bank 1 & 2 and timing chain rails pieces) . It all started with a failing AOS right after hitting 100k, figured I would change the oil and drop the oil pan to inspect for any foreign matter since my oil filter had plastic bits. I too own a 00 Tip 996, for me it was much easier to just get an a few jack stands, an ATV jack & a transmission jack and drop both for what I was doing. I replaced all the VareoCam chain tensioner pads with upgraded stuff for $60 dollars including the IMS chain guard pad. Then bought new lifters since a few of mine were sticking and squishy. To then spend about $1,300+ for seals, new AOS, gaskets, new bolts, new hyd lifters, IMSB repalcment and various parts to re-assemble the motor. Because I had to split the engine case in two to access the IMS chain paddle. Saving cash on the labor since I'm doing it all myself. But if you just plan on removing the valve covers and replacing the VareoCam chain guards perhaps then it might not be as bad. By the way, you are also going to need a tool to compress the VareoCam solenoid tensioners in order to remove the old pads. You can make the tool yourself utilizing an old mountain bike quick release skewer and cutting some metric 5mm threads with 0.8mm pitch Left Hand threads into it. If your tensioners are reversed threading like mine were. But if you are lucky and they are not reverse thread then you might get away with using the threads the skewer already has. Otherwise, do like I did and grab a die cutter on ebay for less that $5. http://www.ebay.com/itm/Metric-5mm-L...UAAOSw6btXTUja
If your ims was shedding material and it sounds like you are almost there with having the engine completely stripped down I would get everything cleaned ultra sonically , the last thing you want is spending loads of cash and time on the engine just to find there is contaminated material inside in the nooks and crannies which will ruin it when you come to start using it again!
Will replace both sides cam shoes and solenoid'(S) why not? and RE-Time the engine then .............. perhape IMS Update?? tensioner update perhaps?
while it out?>>
This is a kinda easy job compare to the old school air cooled car hand down ..