Hard to say for sure. They are cars that have a valve clearance that has to be adjusted by replacing shims. That will cause a ticking noise if the gap is too large. One way to check for wrist pin noise is to pull a sparkplug wire on the suspected cylinder and listen to see if the noise goes away. The other area is piston slap. If the cylinders are really worn they can make a noise, but I think the only way to check it is a leak down test or pull the head and actually measure the cylinder, which is a severe pain in the ass.
It does sound like your measurements are out, but if it still runs without missing then it should be OK. You might have a LOT of carbon build up in the intake/exhaust and top of the piston which will cause quite a raise in compression Then the fuel might detonate because of not enough octane at the new timing mark you reset it to.
The oil pressures sound about right, but you might want to change the oil and filter and put a higher viscosity oil in to see if it moves up any. Let us know how the noise goes and if you make any progress.
Russ
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