Thanks for all the ghelp guys - Bill especially.
I went ahead and started it up today, and I'm quite pleased with the results.
Some background - last year I had my thermostat fail in the partially closed position, so one weekend I remedied that. While I was at it, it occured to me that chain problems are endemic to the M117, and I had never checked the stretch on that car. I pulled off the right hand valve cover and discovered 14.5 degrees of stretch. I was so shocked I did not start the engine again, and parked the car pending repairs. I checked my mileage log, and it turns out that was July 21 last year. It took until this year to get around to doing the repairs, and its taken months because I've been distracted by other issues.
I replaced the chain, and cam sprockets, plus the three upper chain guides, and the tensioner rail lining. I also put in a new tensioner. I tried to do the correct thing, priming the tensioner in oil, but the new chain was so, well, unstretched, that the tensioner rail was moved very nearly to its outer extreme, requiring the tensioner plunger to be compressed to its maximum to fit the tensioner. The chain ended up as tight as a drum skin on all travels, and I was unhappy with this. I ended up removing the tensioner, draining the oil and refitting it. I then was able to deflect the tensioner rail about 2mm with firm hand pressure.
Before firing the engine, I cranked with the coil disconnected until I had oil pressure. I then reconnected the coil, and it fired first time. 11 Months after it last ran!
There is not much difference in performance, which surprised me, but it now idles very smooth. THis had been a problem before - idle was terrible.
Happiness. Now I can get on with the sale of this car.