I have what I think is a lifter ticking on my freshly rebuilt motor. I swapped all but one lifters with another used set and the one I did not replace was on the number one cylinder. The ticking is still there and is back towards the distributor. I also swapped the push rods and made sure they were clean. The lifters not so clean as new but sat in transmission fluid for over a month. I have removed the bolts from the torque converter and slid it back and still the ticking. I have swapped the distributor and still the ticking. I saw this briansmobile1's Channel - YouTube video and am going to remove the valve covers and loosen the rocker arms and fire some B-12 down the rods along with an engine flush.

 

Are you sure you aligned the distributor correctly? There is a procedure for it & I ask that because you say it's back by the distributor. #1 cylinder is at the front if I remember. Did you set the valve lash properly? Here's a link for the valve lash procedure.
COMP Cams® Quick Tech Video: How To Set Valve Lash - CPG Nation Forum

 

yup cylinder 1 is up front

 

Thanks for the pic John - it's about time! lol

 

Note the numbers on the distributor cap are not physical but electrical locations. The rotor button will be pointing to where the cap is labeled #2 if I remember corectly but there should be a mark on the distributor itself for the true #1 position.

 

The Dist. hold down bolt goes in smoothly and the hold down is not at any funky angle. The timing is on target. I have no CEL. Engine sounds good other than this tick. Tick is present on cold start. After reaching operating temp the tick is still there. If I drive down the street and floor it, when I get back in the driveway the tick is barely noticeable. After being in the driveway for a minute the tick is back. The oil pressure gauge is reading 40/60 at idle and near 80 driving.

 

Maybe a bad lifter? Just because it's new doesn't means it's right. But they aren't new & the #1 cylinder doesn't seem like the culprit.
Still sounds like a bad or improperly adjusted lifter/rocker. Oil pressure is right in there. Cold start clicking & when the oil pressure resides & the engine "calms" still says an improperly adjusted rocker IMO.

How consistent is the sound? Is it extremely rhythmic & consistent? Or just there & sometimes off beat? If it's off beat/inconsistent then it's a floating issue like a wrist bearing on a connecting rod. Something that rotates as it spins & has a flat or bad spot perhaps.
Could also be the gear & bearing at the bottom of the distributor shaft. They've been known to go as well. Most stock gears are pressed into plastic I think.

I've been through a lot with my blazer, but it's the labor of love that gives me the chance to relate my issues/experiences with people that have similar lol.

 

This 1999 4.3L is still ticking. Back before I purchased the new lifters, the flow of oil out the rockers was very poor. I had one on the #4 cylinder that was squirting out and reaching the inner fender. All others were just oozing out the rockers. I'm going to pull off the valve cover tomorrow and check the flow. If it is low flow what would cause this? If I pull the plug wires one by one the tick is still there so I don't think it is a wrist pin tick. The noise seems to quiet down at higher revs and then comes back. I don't know what piston slap sounds like so I cannot say it is that.

 

Non adjustable rockers. The valves were serviced and I can see where the rocker side was ground back some. It is my understanding that if you take some off the top when lapping, you take the same from the opposite end. Is it possible that the valves are slamming. I had the valve cover off on the passenger side today. With the rocker nuts fully tight I can still move the push rods not just spin them. What to do?