I'm glad he asked this too because I still have to fix my valve train noise. Not to hijack the thread, but I broke down and bought an actual stethescope rather than using a screwdriver. Mine is definitely the loudest and coming from Cyl #1. There is no loud rapping noise when holding the scope to the oil pan (but you can faintly hear the ticking resonating from the other part of the engine). The car still runs like a ***** ape and has been driven about 2k since the noise started.
I have a mechanic person to help BUT I'm in a quandary as to what to get first before I call him. I'm going to go ahead and get VC gaskets and intake manifold gaskets for the **** of it and replace them since I'm opening it up (and b/c my helper insists). Since I'll have the top opened up, do I need to go hunt down a Rotunda tool kit with shims in case my problem is valve related? I hate to go buy tons of parts I don't need but would be ****** if we had it torn down and couldn't continue without special tools.
I, too, don't want to go buy cam chain tensioners or a timing belt tensioner without finding the problem first, BUT I don't want to have the car torn down and not be able to fix the problem while we're in there. I've already got the advice and suggestions from everyone on here but now I'm wondering if I need to get the Rotunda kit too.
My noise, like the OPs, quiets down when the car warms up typically, especially on a warmer day. It will almost disappear if the engine is really hot.