At the very least I'd pull the timing cover and give it a look, since you are that deep into it.
...Thanks. Your's is the best advice that I would follow on this thread.
He might open it up and find a classic morse silent chain with an iron gear just doing its job. Or a brand new Cloyes double roller timing set, or maybe there's a Jesel dry belt running in there. Or a Pete Jackson quiet gear drive. Or he might find a chunked OEM plastic gear.
If I'm working on an old Bronco, and its history is UNKNOWN, and the timing cover comes off...then the pan is coming off too.
He's got the top end off, so he knows exactly how much ridge it shows, and whether it's been bored. If it's standard bore, and there's any ridge, then it's going to get a set of bearings and an oil pump.
And if the pushrods are out of it, and the heads are off...I'm pulling lifters, (one at a time) and inspecting lifter wear. Just pull, wipe, look, and insert back.
It's easy, it's free, and it's silly not to. The ONLY question is whether I put a new rear main seal in it, or risk it leaking.
But yeah, If I'm there, I'm measuring, checking, and inspecting FIRST. And if I own a dial indicator, I'm going to check the lift, duration, and lobe separation on the cam. Because as soon as you put it back together, and drive it...you will forever wonder, "hey, what cam is in this thing?" Which is why Im doing this exact exercise today.