'72 107 roller chains and rails

Hi Guys,
I'm real new here, so please bear with me. I've recently purchased a 1972 450-350??? sl and feel the need to replace the timing rails. It whines and grinds for about 30 seconds at startup, but is fine afterwards. Other than that, and not knowing much history of the car, and the horror stories I've heard about rail explosions ruining a $5000.00 engine, I feel that it's a good time to replace. It also smells really rich, like gas, but I'll save that for another post.
What parts do I need? Just two rails at $3.00 each? Are there any gaskets to replace? Any o-rings or seals? Should I change the tensioner wear pad? The last thing I need is to get knee deep into car parts and find out that I'm lacking a .15 cent widget with a three week lead time. I know about the puller for the pins and I have to take the alternator and stuff off the front. Should I take off the oil pressure tension plunger thingy and play with it in a bath of oil? I also have the bootleg disc from Ebay. ($30.00 including shipping, works great). Is this a good time to upgrade to a roller chain? Do I already have a roller chain? This isn't my daily driver, so I'm not pressed for time, but I would like to get it done before summer. My wife wants to go topless, and we need it to be dependable.

Thanks,
Bob.