Finally had some time to adjust the valves on the SAAB. A couple valves were tight, and one intake valve was very loose (source of the noise I think). But otherwise in spec.
Problem is, there is still noise coming from somewhere in the engine. It sounds too slow to be anything crank/rod related, so I’m not too worried, but it doesn’t seem to be coming from the very noisy steel timing gears, and setting the valve clearances didn’t make it go away.