Valve Train Noise...

I don't typically recommend this, but you might want to get it in to a shop that you feel you can trust and have them take a listen to it. Have them explain their diagnosis in detail, and see if it makes sense to you. Research their explanation online, and see if you can find information that supports their diagnosis. I would take this route before jumping into the cost of a new engine. I bought an '85 Chrysler New Yorker once that had a "blown engine". Opened up the hood, and their was oil sprayed everywhere. Paid $50 for it, put in a new PCV valve, which fixed the problem, and sold it for $600. Point is, your issue may actually be very minor. ;)
Man I hope so. Living in medford is weird. If its not a 60s or 70s american car. You're pretty limited on engine rebuilds. Only 2 shops do machine work and they dont really touch anything besides v8s, 4 liters and 22re's. I have the money I just dont have a spare car or spare time.
 
Okay, this might be a bit of a long shot, but what the hell, right? Sometimes a belt (alternator, power steering, etc.) can make a very loud rapping sound. You'd swear it was metal-on-metal. With what you have starting off as a "tick", and now being a screeching sound, maybe you've got a belt issue...? Worth looking at. Won't cost you anything to do so. ;)
 
Update. Went to a. Jeep specific shop here. He said that my cam shaft synchronizer could be out. He used some chassis ears and pin pointed the sound to that area. Might be something to look into for anyone who is having some weird valvetrain noises. Paid $68 for an upper end synchronizer with the sensor and lifetime warranty.
 
Update. Went to a. Jeep specific shop here. He said that my cam shaft synchronizer could be out. He used some chassis ears and pin pointed the sound to that area. Might be something to look into for anyone who is having some weird valvetrain noises. Paid $68 for an upper end synchronizer with the sensor and lifetime warranty.
Another update: the cam synchonizer did not fix the problem, despite this guy working exclusively on jeeps for the majority of his career, mis diagnosed the problem. I guess I'll be trying yo chase down this problem on my own