Hi Sean,
my opinion:
A timing sensor wouldn't cause a mechanical noise like that. The engine would just die.
A bad camshaft adjuster solenoid could cause a wrong timing. But to me it sounds more like a single valve problem than all valves of one cylinder bank or something like that.
Also if you would have a completely bad camshaft timing at one bank you wouldn't have perfect compression in that bank.
But it is always hard to do a diagnosis from a video.
That is why i asked to locate the noise. And that is why i suspect a hydraulic lifter. Because if it fails there must be no negative effect to the compression.
Gelbster's question is also a good one. How much retarded?
Regards, Markus