The noise increase's with speed.
So.. I took the valve cover off, poked and prodded. The valves are in tolerance all the way around. I cycled the motor through the strokes via the timing mark access, and didnt get the loud clank but a small one. It was caused by the compression cam. I took this out completely to eliminate probable causes.
I hooked the battery up and cycled the engine through use of starter motor. No loud or small clank.
I put an oil collector up to keep oil from everywhere and put the spark plug in and started it. I get loud clank. The noise seems to happen with a bit more rpm than turning by hand or electric starter.
If i was a guessing person I would now say it has something to do with the exhaust lobe/rocker arm.
Im too the point of completely disassembling the top end and starting again.
Here is a a hard description of the cycling of the cam. From 7-5:30 the cam moves smooth. Even with contact to the exhaust lobes its smooth. From the moment there is contact with the intake lifters there is 2 small pressure restrictions and then its smooth. Does this sound normal, about the pressure points on the cam lifters?
Thanks for the help guys and sorry for plugging up the BS thread with my tech questions.