I had a mechanic look at my car today ( turns out he's an old friend from my graduation class)

i started the car and had him listen to the noise first off (he wasn't overly concerned to my surprise,"just regular engine noise" but did say the timing tension may be a little off and just shrugged his shoulders slightly)
while listening to that he pointed to the carbon deposits and said "you got a bad gasket there eh", he's pretty sure its the valve cover gasket.(now that i think of it ,why is it carbon looking and not oily then ?)
then i asked him to just give the car a good once over inspection(since i have no records on the car whatsoever),left it with him for a couple hrs and this is what he recommended:
replace timing belt + tensoiner
replace water pump
replace crank & cam seals
adjust valves & replace valve cover gasket
replace drive belts
replace spark plugs
replace fuel filter
The estimate including labour is $467.31
he also recommended a tranny oil change,cooling system flush and a new battery soon.
so i'm going to take it back next week and have the work done.
i did record a video this morning of the engine noise( which turned out pretty well actually) but i'm tired off trying to upload it on youtube(it just says "uploading" forever.(is there another site i can try)
also after having another look at the cat this morning, its rusty in color like the header but not all that bad, and the mechanic never mentioned it so...
anyway after all is said and done it will cost me a few bucks for piece of mind,but hey,i paid $3800 CAD for a descent car,the mechanic never found anything major wrong with it so i'm happy ( i did take a chance not knowing the cars history).

