distributor looks fairly new has been on the car since i bought it, never noticed it before but theres a tapping from my dizzy when car is cold on start up mostly, its loudest on start at around 1.1-1.2k then goes away or less quite at idel and warm. any ideas of what it is?

 

probably a bad bearing. pull the cap and see if you have brown dust in the distributor.

 

X2 on the bearing...

That or it could be something in the rotor come loose and its hittin the cap itself.