I'd pull the valve cover and have a look down the chain case to see what your guides & cam gears look like. That clattering sounds too fast for a lifter, might be the chain rattling. The old-style tensioners would occasionally munch the case, and the old-style idler gear bearing would fail at random mileages.
Your '95 shouldn't have those problems. Chain noise can migrate up the case, it's hard to determine the source without a mech stethoscope. In a pinch, you can use a long-handled screwdriver instead. I wouldn't do that on the front of a running motor though, the risk of a belt-related injury is unacceptably high.
I run pretty thick oil in most of my BMWs, they seem to prefer it. I noted that my M42 ran very high levels of wear metals with thinner oils like 5w30. I've switched to a full-synth 15w50 and my used oil reports showed an immediate drop in wear metals.