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Hey Mike,
It's a Ford, not a Beemer, MB, or swiss watch. Keep it simple, just like Chevys. They both have their idiocyncracies.
Sounds like you have some irregularity on the rear cam bearing that needs to be checked out, perhaps by the machine shop, before you go final on the cam. If need be, replace the bearing. Since you took the old cam out, perhaps replace all the cam bearings while it's apart and in the shop.
If you take it to the shop, have the valley near the lifters clearanced, and holes threaded for a spider so you can install a hydraulic roller cam later without tearing the engine down.
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