The VE30DE engine have a very common VTC issue which is likely the source of the ticking noise (probably sounds like a diesel). There's a way to "ground" the VTC's so that they don't activate making the ticking noise go away but I'll have to search for the procedure as I don't know it off hand.
You mentioned compression issues, did you do a compression check to see if it had low compression? I can't remember if anyone had compression issues when the VTC's failed but I can see that potentially happening since it messes with cam timing.
In the end, for the time and cost of repairing it you can probably find a complete engine and replace it as a whole for less than repairing it. I know quite a few guys with VE's go for the "JDM" engines but you can probably find low mileage VE's in salvage yards as well. A good place to look for salvage yards would be
http://www.car-part.com.
If you want to try the VTC grounding first to see if that helps, let me know and I'll find that info for you.