My 02 non-supercharged bonne has a fast ticking sound from the engine compartment, when it is idling mostly and only the first minute or so when its stone cold, and then it gradually mutes. It is loud, I can even hear it from inside the house. It is proportional to the engine speed but I can't nail down where it is coming from. It is a real clear sound, like its outside the engine block, (It doesn't sound muffled at all).

Any ideas what it might be and how soon I better do something?

Get a mechanic'* stethescope for about ten bucks at the auto parts store. Try to nail it down better.

My bet is that you'll hear it better between the LIM and VC'*. I'm suspecting a lifter.

Pull off your drivebelt and start it up, not for long though as the WP and Alternator are ran off of it, and see if the ticking goes away.

I'll pull the belt off first thing tomorrow when we're back from the inlaws... good idea to see if its the water pump.

Willwren, I'm not figuring what VC stands for (?)

I'm betting on Valve Cover.

Valve Cover, of course!
I read some threads about the Evaporative Emissions purge solenoid ticking, that wouldn't be a fast constant tick though would it? Also Willren said about tightening an exhaust connection somewhere?

I just thought of something, the first few times I remember ever hearing this is when I drove through some water in a parking lot. Now I hear what seems to be the same noise when it starts up cold. Just incase that gives anyone an idea, I sure don't make a connection here. Edit: my wife is real sure that was a different noise the water caused, probably unrelated.

Hmmmm....ticking noise...outside engine.....water/moisture induced. Just a WAG bit with info given so far it could just be an ignition wire short to ground. If bad enough that can cause a rather loud clicking, popping sound; although I doubt it would go away after awhile.

If all other ideas fail try this: Start it up in a garage, open the hood, cut the lights out and see if you can see a telltale arcing somewhere near the sparkplug harness.

The most common ticks you would hear on a cold startup is a lifter. That'* where WillWren is originally going with the VC mention. A waterpump shouldn't tick when cold. Groan or moan maybe from bearings on their way out, same with alternator and other belt driven items. The belts keep them moving too fast to tick.

Sometimes a small leak in exhaust can also sound like a ticking sound.

Ok, it seems you guys were right on with the lifter. I took the belt off and it still made the noise, but only for a little while. It seems to last longer the longer the car sits overnight. But with a makeshift stethoscope I was able to hear it under the VC, cylinder closest to the driver. So maybe that'* the last cylinder to get oil pressure? Anyhow, is that something that can cause damage or can be fixed? Sometimes its pretty loud.

I'll post a second topic about my LIM gaskets, but I think they're bad. Could that cause the lifter oil to drain back down somehow?