Well, I've read quite a few threads on all kinds of engine noises and boy, am I as confused as ever!
Looks like a lot of tapping-clicking-ticking noises from a Phase 2, 2.5L, 165HP, SOHC, boxer engine in Subarus (1999-2005) can be explained away by the following:
1) Slight clicking/ticking from a valve train is okay, because they use "solid" (non-hydraulic) lifters (until 2006) and no matter how well you adjust those, they click, warm or cold. In fact, "...there is no setting...with direct contact that eliminates the clearance without "burning" the valve train...", so "...tick-tick-tick...sounds like a well running engine..."
2) Piston slap is okay (because they use short skirted pistons), as long as it goes away in a properly warmed up engine.
3) In general, the engine is more noisy than other engine types simply because it's a boxer, so "...valve clatter is not so well dampened due to the lack of covering by air-filters and other components...". So if you hear ya valves even in a warm car, it's okay..
So the question is: WHAT kind of tapping-clicking-ticking noise IS NOT okay then? Only piston slapping in a warmed-up car? Anything else??