12499529 crate motor problem SOLVED!!!
I bought one of the first engines off the line and had the exact problem. After months of diagnosis, I tore down the block and measured the cam against the prints GM faxed me and discovered the cam slot was ground ~ 30 degs out. After asking various gm parts managers, one confirmed that this was a small 'production problem' that was caused in production where a bad run of cams were installed. He knew of 20+ cases. They replaced the cam and lifters and it times up correctly.