yeah that will help
i stuffed a nice bit of nylon up the middle of my 3 bolt cam in my new ish motor
i left a few thou clearance with the cover
i have not razor edged my oil pump drive gear or busted a nylon dizzy gear or indeed smashed an oil pump off its delicate mounts....
my original/old motor with single row chain wore a hole in the timing cover the cam slap was b A A Ad
and the oil pump and dizzy gears were horrible. it was fixed in OZ as described below
the delicate balance between spring pressure the slope on the cam lobe the dome to the lifters and the force needed to turn the oil pump and dizzy gears was quickly lost once the motors got 50K + on them the cam rode back and forth in the block stretching the single row chain wareing the front face and the cover and chrysler oz started getting warranty claims and bad press
chrysler australia's patented bodge for the Hemi 6 below, it assumes a pressed steel cover. new ally ones, if you can find one, come with the bodge already installed saves paying summit for a cam button.
The following is an extract of a Chrysler Australia Service Bulletin dated September, 1976.
1. Remove radiator, fan, vibration damper and timing cover.
2. Locate on the timing cover the centreline of the camshaft. (Refer to figure 1.)
your timing cover is different as this was for a hemi 6 the hemi 6 picture was all corrupted so i didn't lift it for here, most have a flat circle in the middle of the strengthening flutes
Drill a 5/16" hole through the timing cover to align with the centreline of the camshaft. Braze a 5/16 U.N.F. nut to the outer side of the timing cover (it is recommended that a 5/16" U.N.F. bolt and nut be used to positively locate the nut being brazed to the outer side in the timing cover, to ensure correct alignment with the centreline of the camshaft.)
4. Modify a 5/16" x 2" U.N.F. setscrew, by drilling the centre of the bolt sufficiently to accommodate a 1/4" diameter steel ball bearing. (Refer to figure 2.)
5. Refit timing cover to engine.
6. Screw lock nut (5/16" U.N.F.) over full length of setscrew, then thread setscrew with ball bearing positioned (smeared with grease to temporarily secure) through nut brazed to timing cover. Ensure steel ball bearing does not dislodge from counter bored setscrew.
7. Adjust setscrew to eliminate end float of camshaft, then back off 1/4 turn. Lock up setscrew with lock nut. (Refer to figure 3 for assembly condition).
8. Refit vibration damper, fan and radiator, refill cooling system.
9. Road test vehicle, ensure there are no oil or cooling system leaks. IMPORTANT: Ensure that the end float adjustment screw is backed off 1/4 turn minimum, and that there is sufficient clearance between setscrew and fan belt.
no..... they actually published a service bulletin suggesting this to their dealers
my current motor has a nylon button (nylon rod and a bloke with a lathe)...no problems
the previous one was repaired in this way (as in the bulletin) with a new cover and timing set...it went much better with a chain that was not half a mile stretched
more on how to australian-ise your car here
http://www.geocities.ws/drhemi.geo/techpage.html