The hot starting problem is probably the accumlator leaking down. Takes a while to get the pressure back up. Could also be the pressure regulator in the engine compartment leaking down, you will need to attach a pressure gauge to determine which one it is.

The rattling is probably the water pump, figure 6 hr to replace and several hundred dollars (the belt tensioner is probably shot, too).

Peter

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1972 220D ?? miles
1988 300E 200,012
1987 300D Turbo killed 9/25/07, 275,000 miles
1985 Volvo 740 GLE Turobodiesel 218,000
1972 280 SE 4.5 165, 000 - It runs!