RE: HOW TO: Fix the 4.6L GT Ticking noise...
Hey, did you get this up and running yet? Just an FYI here, I just noticed this... You didn't mention holding the camshafts in place while you removed the tensioners and gudes in your original post. The camshafts will rotate, causing the gears to "jump teeth" in the chains when you remove the tensioners. It happens quickly and if you're not paying attention you won't even notice it. Visually everything will look fine, but your camshaft timing will be off which could be disasterous. If the camshafts rotate you need to re-time them.
Oh, and if you have metal and plastic pieces floating around in your oil there's a good chance they're stuck in the pick up tube screen as well, which can restirict oil flow. I know when my rod bearings went, my pick up tube screen was a mess with shavings (and it had a huge chunk of my radiator cap stuck in it, don't ask, I don't know). Unfortunately you have to drop the entire oil pan to look at it...
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