sportdesignyo

My friend just bought this car 200miles ago, now its making a noise that makes it sound like a TDI. I cant figure out where its coming from. its a 92' 8-valve with 120k under the valve cover is as clean as new. found paperwork in the glove box that says the valves were adjusted less then 400miles ago, and the tech there commented he thought there was piston slap. That just doesnt make any sense to me with so low miles, no smoke, and good compression. any ideas?

http://smg.photobucket.com/albums/v3...=VIDEO0009.mp4