December 3rd 2006 Update:
Due to the excessive rattling of my timing chain, I felt it was finally time to delve into the engine of my Midget. Unfortunaltely I dind't really like what I found.
It looks like, as it turns out, that whatever DPO rebuilt the engine last aparently installed the crank sprocket with a sledge hammer, then forgot to install the oil thrower and so the timing chain chewed itself up at light speed.
Note particularly that if you look at the picture of the timing sprocket closely you can see the severely marred front edge.

On top of that, the crank pulley looks like it was installed with above said sledge hammer method as it has serious bits missing both on the front and rear.

No wonder it nearly shook the car to pieces at an idle... you'ld have thought I had a really hot cam with how lopey the car felt but really it was just that big unbalanced lump on the crank-end.
Now I'm left with trying to reassemble the mess with new parts. I bought all new timing chain and sprockets. Coincidentally, I was able to find a good donor balancer and found an oil thrower so once I get the sprocket refitted, things should be good to go for awhile!