DTH wrote: ... this still doesn't explain the loss of torque where the cyl head recon & new rings should have increased it

1. Have you checked the belt has been tensioned by rotating the crank clockwise (looking at it) and the crank is at TDC on the timing mark?
2.
At the same time, the 'I' on the inlet pulley and the 'E' on the exhaust pulley are at 12 o'clock, with the E/E and I/I aligned?
3.
And there is no slack in the belt between the inlet pulley, the exhaust pulley and the crank pulley?
If the answer to all the above is 'yes', the cams are timed correctly with respect to the timing mark on the crank pulley.
So far as timing is concerned, the only remaining thing we have not been able to do is to determine whether the TDC mark on the crank pulley is at TDC on No1 because the plug in there is stubborn (without a dial gauge, valve movement will only be an approximation). The next best way (that I know) is to pull the other plugs and find the other piston that will be at TDC on the exhaust stroke when No1 is at TDC on the ignition (compression) stroke. This will determine that the crank pulley timing mark is showing TDC on No1 (or not - unlikely, but possible). If not, either the key is missing/damaged, or the rubber between the two parts of the crank pulley has deteriorated allowing the two parts to move out of alignment.
If TDC on the pulley is TDC on the piston, my diagnostic skills have been exhausted. I will have to yield to others who have better skills than me.
