Yes, and I thought that I had found the issue. I do believe it improved after adjusting, so I think that it makes sense there could be an issue as you described (that was slightly improved with adjustment.)
This will be my next step....thanks for the tip.
Sounds great, I can't wait (ugh!) I see the rocker arm shaft is held by the head bolts, I can't just unbolt it and replace what is needed? (The engine is staying in the car.)
The engine looked a bit gunked up, but also had been flooded prior to me changing the oil, so I think it was running the 0W0 weight you mentioned (I'm guessing there was ~1 quart of fuel in the oil.) There was no noise when Steve was there, or in the test drive video I have from the week before I bought it. I'm guessing it was flooded and severely diluted the already crappy oil just before I got it.
I have a bad feeling it's a rocker arm/cam issue.
Thanks Dave....very much appreciated.