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What condition were the chain and tensioner pads in? Were the teeth on the cams worn at all? The little j-tube from the cylinder to the chain tensioner was known to develope cracks and leak, which reduces oil pressure that the tensioner gets and thus reduces chain tension. Guess what I'm saying it the noise could be the timing chain slapping around.
Where exactly did you isolate the noise to?
I doubt a crack in your oil pickup is going to cause air to enter the oil system and go straight to a couple particular lifters. You'd notice a drop in oil pressure too.
It may be something you just live with...
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