This noise really sounds like it's outside of the engine case, but I could be wrong. I hope it's not a rod bearing or transmission bearing, but I seem to be running out of easy things to check.
I can't really say when I first noticed it, but since I've had it running and on the road consistently it's been there.
Wheel bearings and cush drive appear OK to me. The noise originates from somewhere around the front sprocket. I'll check that area again closely, but I can't see any issue there.
At this point I'm going to put slack back in the chain and fab up a thicker chain guide from that old cutting board. Probably not the ultimate solution, but it should keep the chain healthy. I need to get it prep'd for a track day on the 27th, so I don't have time to tear into the engine internals right now. I wear ear plugs at the track, so that should fix the problem temporarily anyway...