This may sound a bit ridiculous, but have you removed the oil filler cap and watched the camshaft while someone cranks the engine.

I don't see anywhere in the post where you know for sure that the timing chain hasn't broken. The previous owner indicated it just lost power and died. This could have been caussed by a broken timing chain.

Anyway, pardon me if you've already eliminated a broken timing chain as the culprit.

Cheers,
Wes