Thanks for the reply.  I called my A&P and the problem is with the cam follower.  About 3/8" of the outside sleeve has cracked off at the end away from the cam.  Everything moves freely, the engine runs fine.  We were installing new gaskets at an annual when we found the cracked pieces in the lifter cover.  The pieces look like they have been in there forever.  The cam follower still has about a inch and a half of sleeve left in the block.  On any other engine I own I would just run it as it is.  But my A&P says that's no good on a plane.  I have a son in an A&P program and he is asking his instructors about it too.  What would you do if it was yours?  Run it or tear it down?  Thanks for your help.   Joe

The problem will not get any better and you risk contaminating the engine with metal, once it gets mixed in with the bearings it will probably "lunch" the engine. When I was in A&P school, many moons ago, it was always stressed that you can't park it on a cloud and fix it. The longer you run the engine in this condition, the worse it will get not to mention it will get very expensive.