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My 73 L-82 is 'ticking' again. Last summer I had a 'ticking' start and a small loss of power. In checking the engine I had problems with lack of compression and very high leakdown in cylinder #4. Appeared to be the intake valve leaking. After 'adjusting' the valves on #4 cylinder everything was ok. It has run fine al Fall. I either had some carbon build up on the combustion chamber head or a weak lifter, or so I thought. Driving home from work Friday the 'ticking' returned but much louder and with more power loss.
If the lifter is bad, my first guess, should I replace all of the lifters or just the bad one? The engine was rebuilt about 3000 miles ago/5 years ago.
Roll the engine over by hand and check that the travel on that valve is the same as the others. It could be you have a cam lobe going flat.
Also, if the valve has been adjusted too tight, then you may have burned that valve or had carbon build up under it so it doesn't close and seal now.
I can think of a few things I would do, but someone would call them too Bubba to mention here. Instead, if you don't find the problem, you may have to pull the head.