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Why won't you use i5тд to check engine timing? I don't remember about M54, but M62 definitely had operating values check which timing check was рдят of. Anyway it's been ages since I worked on any of these. But when I used it AFAIR it immediately found that one of cams had wrong timing preventing VANOS operation. And I also had sprocket dismantled from the cam. Even I had tool to lock the engine I did not have special chain tensioner and that was enough to get wrong timing!