The valve seats on these cars are not the high-temp resistant sort needed for LPG, so dont race it and keep an eye on valve play (Ventilspiel) if you don't want a torn off valve to wreck the engine...
As far as I know this forum has never ever seen a problem with the timing chain of our cars. Some other European 3cylinder had problems because their timing chain lacked a lubrication nozzle.
The rattling on start is a classic no-oil-startup rattle. Use a Filtron oilfilter OP575 to stop the rattle. It wont rattle because the oil doesnt flow back into the oil pan after stopping the engine.
A timing chain for Smart? Yes indeed, same water pump too!