I would recommend replacing the tensioner rail because you are there and it's easy to replace. See my posting:
http://www.peachparts.com/shopforum/showthread.php?t=185820
I took some pics and you may want to add to them or add you comments as well.
I suggest that you replace the rails first and check the offset, cam marks aligned and 'offset' noted on crank damper. If you do replace the timing chain, I recommend using a clamp on the drivers side sprocket as well. Get someone to help feed the chain in while you rotate the engine.
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Regards
Warren
Currently 1965 220Sb, 2002 FORD Crown Vic Police Interceptor
Had 1965 220SEb, 1967 230S, 280SE 4.5, 300SE (W126), 420SEL
ENTER > = (HP RPN)
Not part of the in-crowd since 1952.
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