@ghostrider: Looking at the pictures you've posted, I can tell my boxster has the same leakage (but very minor) on the left bank. But an oil leakage on the head most likely comes from a bad gasket and doesn't mean something catastrophic to the engine, in most cases.
About the noise you ear on startup, it could likely be the timing chain running over the tensioner for the very first seconds of motion. This happens if you use a lubricating oil which has a very low cold grade such as 0-50W, whichi needs some seconds to get in flow and pressure.
If you're scared about your IMS, just get your gearbox and flywheel off and check it. When you pull off the cap and loose the retaining bolt, you're able to see the bearing in its housing. Move it as it must not have any play axial or radial.
Jake Raby's pages are really meaningful about that and, at least -as I did- you can buy the new Guardian and let it monitoring your IMS all the time. It maybe worth the whole engine value in case of... s
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