After a few test, the ALDA seems to be completely non-functional. I am going to replace it w/ the one from the blown motor. I don't think this will get rid of the (scary) noise, but it's a start.
I am also going to check the IP timing...If I can figure out how. Any links would be appreciated!
-M-

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Currently:
1972 350SL Euro 4spd
1973 BMW R75/5
1981 BMW R80GS
1995 FZJ80 with OM606 Conversion In Progress