Another update for you. I got the engine all back together on Friday night and fired it up on Saturday morning. It started straight away and there are no horrible rattles etc. I have since covered about 150 miles. It has used no oil, there is no blow-by and it seems to be pulling really well. The only problem is, I still have my irritating hunting / misfire problem and white / blue smoke on start up! All that and no better. So, this leaves me with two things in mind which I would like some thoughts on:
1) I intend to strip the timing cover off on Monday (I've booked the day off) and check the crank damper key way, the crank sprocket key way and of course, both crank woodruff keys. I will also be removing the cam sprocket and checking the keyway there. I only installed a new belt during the Summer, but it will get another new Delco belt along with a new tensioner and idler (neither of which I replaced when I did the belt).
2) Failing there being timing issues, the only other thing on my mind is the fact that I reused all 8 follower assembly securing bolts when re-assembling the engine with new followers. Each follower assembly came with two new bolts (one metric, one imperial I presume?) but the quality was appalling, much lesser in weight and thickness than the original ones. One bolt however, had a little wear around the chamfered edge that tightens up into the hole on the guide. Is it possible that, if there is a slight clearance between the guide and this bolt, the entire assembly will move up and down a fraction in it's recess in the block causing friction / valve train problems?
Thanks from a head scratcher!
-Tom