how long ago did you do the timing chain ? -------- there is no adjustment on a 300 chain adjuster , it is automatic --------- what are you calling a tensioner arm , I would guess you changed one of the two chain guides and your calling it a tensioner arm ------------ the rattle could be the wrist pin bore wallowed out and your hearing the piston ----- could be the timing chain again , I have seen them not last long , could be your slack adjuster is bad