Sounds like probably the TV (throttle valve) cable is in need of adjustment, this is the one that hooks up under the air cleaner and goes back to the right side of the transmission.
The valve noise part is probably a worn out hydraulic compensator, it's sort of like the overhead cam engine version of a hydraulic lifter on a pushrod engine, located on the rocker arms under the valve cover. Either that or a weal oil pump
OH, if you had the cam off for the timing chain, you may have lost one of the cup washers between the compensator and the valve stem.
Gilly