I just did the valve adjustment on my '82 240D. Most of the valves were close ( within .002 inch) to spec. But the real good news is that the timing marks were spot on! Timing chain stretch, if any, is very small. My car has 260,000 miles. Great news, huh!

Good news! What's the maintenance history? i.e. oil change

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1983 240D 4 sp manual 260K

Assuming this car has the original timing chain I can answer the question about maintenance history. The oil has been changed regularly.

If the oil is not changed as it should be, the microscopic grit wears the timing chain links and stretches the chain.

My 240D went 380,000 miles on the original engine and the chain still had no stretch at that mileage. When rebuilding the engine we replaced the chain for good measure.

Good luck,
Change oil hot and change oil often.

Larry, Good to see you're back.
I have no previous maintenance history. I got the car at 239,000 miles. I did all fluids and filters and have been keeping up with all items since then. Now at 262,000 miles.