Hi Guys,
I just wanted to toss in an update on this tread just in case it helps someone out in the future.
I actually had this happen to me again a few months ago with the same adjusting nut. This time it bent the adjusting rod 45 degrees, so I had to replace it. I'm thinking the treads on the rod were the culprit, allowing the nut to loosen somehow. Anyway, this time there was no luck with the magnet. So I pulled the oil pan again. Bingo. The nut fell through the cam chain pathway and landed on the bottom of the pan. The nut was dog-eared a little and I had to clean the slivers out of the pan, but no major damage. So if you're out there searching for what to do because your adjusting nut is missing, as you’re curled up in the fetal position crying, just know, there is hope.
Blake