Thanks for the help but I got the situation sorted out already. The reason I posted this thread in the first place was because my distributor was going out on me. The bearing on the shaft had gone bad and the rotor was hitting the posts in the cap. At first I thought it was my trans throwout bearing or a mainshaft bearing going bad. The distributor being where it is, sent me in the wrong direction to locate the problem. What had happened was, it started hit the lower two posts first, so it made the noise sound like it was coming from the trans. On day when I was under my hood with the car running I thought I'd rev up the engine, when I did I heard the noise again, but this time it was louder then before and actually sounded like it came from the distributor.
I immediately shut the car off and checked the play on my rotor and there was my problem.
Just so all of you know it sounds like a metallic type of ticking whiring sound. I only had this problem after I replaced the cap and rotor. After I looked at my old cap and rotor for futher investigation I noticed that they had been worn down more then normal. With the new cap and rotor the wasn't as much clearance, thus the noise. I also experienced a slight hesitation or miss at low RPM's from a stop. The noise was intermitent and would only occur at low rpms or when down shifting, basically whenever I'd put a load on the car. This is a common problem with higher mileage honda distributors, so for any one who owns one, beware and check your end play and thrust movement (side to side) on your distributor shaft if you have any of the situations I've explained.
One more thing if your distributor is bad you don't have to go out and spend $500.00 on a new one. I rebuilt mine using a junkyard one I got for $20.00. Just make sure all your internal pieces are good. Once that rotor starts to hit the magnets inside also start to get hit which in turn cracks them.
