The timing being off can cause the valve to hit the piston due to the tight tolerances , especially at high RPM's , this can cause a flat spot on the rod bearing eventually causing a rod knock/crank failure as well as piston damage and valve and possible head damage , if you suspect the timing is off , it is best not to run it till you replace the chain and confirm the timing is correct
One other item to check over closely is the Timing Chain Tensioner , they do break from time to time and can cause issues with not only the chain becoming loose and skipping , but parts can break off and get into the flywheel area and get ground up and distribute thru the engine causing serious damage including destroying crank bearings , so check the function and physical looks of the tensioner when you remove it , make sure the detents work and that the unit is intact
I would also recommend getting yourself a Factory Honda Service Manual , the information will give you all the tolerances and torque specs as well as disassembly and assembly procedures as well as informative pictures to identify parts and where/how they fit and a list of any special tools needed such as Flywheel Pullers , etc.
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