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Discussion Starter #1 (Edited)
I have a 2003 Z06, 140k miles with no previous issues. While moderately driving I suddenly lost significant power, feeling like I lost at least two cylinders. I limped 5 more mile to home.
No unusual noises excepts what sounded like compression bursts from passenger side somewhere. Fuel check good, spark good, plugs good. It got interesting with compression check.
#1, 2. 4 and 8 only had 25-35psi and the rest had non. on second round little to no compression on any. On third round #1,2,4 and 8 again had very low reading. Timing chain has considerable slack but no jump and marks are fairly aligned. Crank feels really hard to turn by hand at points, enough that I was forced to bump the starter to continue. Any opinions where to look next? Would excessive slack in the timing chain cause timing to be off that bad?
Can anyone tell me just how much slack or deflection in the timing chain can be tolerated before potential damage to valves or pistons?
 

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Sounds like you blew both head gaskets. I have never seen both head gasket let go but I have no other ideas as to what could have happened. Were you using NOS or running boost?
 

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Discussion Starter #3
Yes it does, doesn't it? That was my first thought. No water in the exhaust, oil was clean, and cooling system pressure was good. It just feels, like a timing issue. It bothers me that the crank gets into a bind about every quarter spin by hand. Its possible I guess, the chain is binding on a sprocket although they look okay, the best I can see with chain on. Going to replace them and check compression again. I just learned about interference engines, and now I'm really nervous!! lol
Thinking back, I remember some pre ignition ping during hot weather last season. At this point, pulling heads for top end service seems a good idea anyway and I'll see more of whats going on, maybe.
 

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Have you checked to see if there is some bent valves or broken valve springs or lifters or push rods ?
As valve(s) stuck open would prevent the cylinder compression
Yank valve covers and check all

Did you do also do leak down tests ?
 
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