If it's knocking, I doubt it's the chain especially since you said both guides are still in place (it's usually more of a rattle). Is it more pronounced when it's cold and tapers off as it warms up? It's probably piston slap then (it seems to be quite common in the R series motors especially the low deck, '85 and up models). Don't wait too long to address it though, as the piston can and will, eventually come (catastrophically
) apart. Don't ask me how I know :shaking: Now, if it gets louder as it warms up (oil warms up and thins a bit) it could be a rod knock. If you catch it in time you might just be able to drop the pan and deal with it from below. Good luck!...........Hans