I just took it to a great local shop and he listened to it and said it was a bucket making noise. He quoted around $250 to do the fix. This included replacing multiple buckets and other parts if needed(without taking the head off). I also asked him about a full top end rebuild and he quoted around $1000.
He told me that he would use Ford OEM parts if I got them which would save me on parts so i'll get them from Tousley Ford.
Anyway, I'm by no means a full on gearhead. I can work on my car to a limited extent but what exactly entails a bucket replacement and/or a full rebuild? Do you need to take the timing belt off and cam out to replace the buckets on this car? What parts would be needed for just the replacement and also what parts for a full on rebuild? I called Tousley and the guy said that there were about 10 different lengths and I would need to know that.
A mechanic friend and I replaced the timing belt 9 months ago(8,000 miles) and the cams looked amazing. I had a coilpack die immediately after replacing the belt and it was only running on three cylinders so I freaked out and took it to the Ford Garage and the mechanic said that the timing was perfect so that didn't contribute to the problem.
The mechanic that listened to it today said it was probably just one bucket. The car has 110 thousand miles on it.
Here is a video of the sound.