Well Ive got new lash adjuster to install my sound is only present when hot like the op states I've used a boroscope to look at pistions and and cylinder walls everthing looks great and I've also gt500 oil to try but unsure what to do,
Robert
John Mihovetz(owner of accufab) did a big study on the " what oil to use" theory but I cant find it on the web as we speak to back up it up.
He found that the tolerances in the lash adjusters is the reason for 5w20 oil in the 4.6 L motors, and why the oil weight changed in the gt, gt500 and cobra r was with differant lash adjusters. He did dyno time on the 4.6L engine with the diiferant oils and found at high RPM's the heavier oils where holding the valves open and causing not only power loss but for the engine to lose rpm when compared to the 5w20 oil.
I forget what his final choice was but I am going to go through my engine books and find out his answer.