Looking at some exhaust manifold and coolant leakage problems first, when that's solved I'll start her up and record the sound, maybe that helps.
It's definately half engine speed, so it has to be something to do with the valve train. Some more background, the engine's a 4.6 V8 and has done approx 250k km.
I think I can either look at just the rockers first, or replace rockers+arms, cam followers, cam shaft and timing chain (it's probably a good idea to replace the chain anyway at this mileage?)