Allright ,this is what happend. this past saturday I went over to a mechanics house that I know, works at a shop where I used to go.
He said that the rocker studs were pulling out.(don't know if thats true on any year chevy 350).
He pulled the valve covers off and attempted to adjust the valves old school style with the engine running. Guess what, it purrs like a kitten know. No more metallic tapping.
I will still keep an eye and an ear on it.
So thanks for everyones help. This forum is great.