P0017 and P0016 is cam pickup sensors most likely, but suspicious that its throwing both...usually its only one at a time. Both might mean the chain is wearing/stretched beyond spec.

However, my dad's 2007 E350 wagon had an engine beyond the S/N range of failures too and it needed the full sprocket/chain replacement at approx 115k miles. He lucked out because the dealer sold it to him due to a mixup (was supposed to go to auction) and they ended up eating the repair.

About 10k miles later we had to replace ALL the cam pickup sensors from the codes you mentioned appearing over and over. About a year after that the code came back and we swapped them around (left to right) and its been off since.

I am not a fan of the M272 after having worked on them many times.... M112/M113 are WAY better motors.

__________________
-diesel is not just a fuel, its a way of life-
'15 GLK250 Bluetec 118k - mine - (OC-123,800)
'17 Metris(VITO!) - 37k - wifes (OC-41k)
'09 Sprinter 3500 Winnebago View - 62k (OC - 67k)
'13 ML350 Bluetec - 95k - dad's (OC-98k)
'01 SL500 - 103k(km) - dad's (OC-110,000km)
'16 E400 4matic Sedan - 148k - Brothers (OC-155k)