when I went to adjust my valves earlier this morning I notice I had two nuts of the intake screws missing on Cyl. #1. I found one near the spring of the valve on Cly. #1 but the other nut I could not find. I looked all over the head and nothing...I even used an extension magnet and did not get anything...I also stuck the magnet down the oil holes and nothing...i also remove the spark plugs and stuck the magnet to each piston and nothing...do you think somehow it may have gone down to the oil pan?...I check my cam lobes and they are fine...no signs of wearness or damage...is this something I have to worry a lot about...I replaced the nut I could not find with one from another head

 

Yes it is something to be worried about. I would try to find that missing nut asap. The last thing you want is a nut being thrown around a 5000+ rpm motor. If it did get down to your oil pan, then there is a chance that it got sucked into the oil pick-up. I would drop the oil pan, see if it's in the pan or pick-up, and at the same time see if it's lodged somewhere in the engine assembly.