Jim

"Can you explain the procedure for bleeding/tensioning the timing chain?"

No, I can't be specific about the '92 300TE. It is different on different models and I don't have the manaul for the 300 engine. The M103 engine has a hydraulic chain tensioner which must be opened or removed to loosen the timing chain to remove the cylinder head. Proper reassembly is critical. With some models it is possible to reassemble the unit with the piston to far forward in the tension position as opposed to the assembly position. Also, since they are hydraulic, one needs to insure that the air is bleed from the unit.

If the tensioner is not right it is possible that within a couple miles of driving the car the slack in the timing chain can will cause the cam gear to slip a cog or two or more until the valves impact the pistons. The result is several bent valve stems and then one is facing about a $3000 rebuild.