Hi,
Wow! The belt is way too loose. As far as the rocker arms, they will move, but what I'm seeing seems excessive.
As far as the timing belt, chances are the tensioner is bad. It has a hydraulic tensioner. In your video, the side of the belt you are moving wraps around the water pump, so you should inspect that as well. Actually, if you replace the belt, it is a good idea to replace the water pump at the same time. That way, the chances of you needing to do the job again in the near future are lower.
I'm not sure what your intentions are with the vehicle. If you plan to keep it, I would replace the timing belt and tensioner. It will jump time the way it presently is. I'm surprised it hasn't already. Please keep in mind this engine (3.5L V6) is an interference engine. If the belt breaks while it's running, it will likely cause internal damage.
When you replaced the rocker assembly, did that side quiet down?
If you look below, I attached the directions for the removal and replacement of the timing belt. I'm adding it in the event you want to change it. (I do recommend it) but that's your call.
Let me know if this helps.
Take care.
Joe
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Thursday, October 14th, 2021 AT 5:56 PM