Here's the cam lock tool in use, makes more sense with the cam cover in place. That's the exhaust cam being locked. It's driven by a chain from the IMS on the other end and drives the intake cam via another chain. This engine has 5 chains: crankshaft to IMS, flywheel end of IMS to bank 1, other end of IMS to bank 2, bank 1 exhaust to intake, bank 2 exhaust to intake.
Crank at TDC and locked, bank 1 cams locked, IMS and bank 1 chain tensioners removed, IMS flange and outer bearing seal removed to get to this view:
The bearing feels fine, turns freely but there's oil where there should have been grease. Not knowing how long it's been that way, there's a new dual row bearing going in.
I've been stuck at IMS bearing removal for a couple of weeks, tried & failed using a cobbled together tool (threaded rod/pilot bearing puller), gave up and bought the proper tool. The old bearing came out in 5 minutes along with a few ounces of oil that don't belong in the shaft. The new bearing is in the freezer getting smaller. 
not sure if you have Smart + Final stores there , but my local one has dry Ice pretty cheap that will really get it cold !
To late for you but there was a great built on Pelican putting a Subaru motor in a 996
I will try and find the link , the build is amazing
In reply to californiamilleghia :
Thanks for the dry ice suggestion. I think I remember seeing a 996/Subie project, would like to see it again.
IMS bearing installed, replaced o-rings under oil cooler, still need to replace rear main seal
Stalled for a while waiting on a new coolant tank (when they are old they're prone to leak, causing coil pack issues on bank 1). Switched to headlights and then brakes.
Coolant tank in, engine in place w/o transaxle so I can get to the rear main seal. I understand it's easier to mate the engine and transaxle out of the car but it was easy to lower the car onto the engine, bolt up the engine mounts and temporarily support the flywheel side. With the engine stand out of the way, I can replace the RMS and install flywheel and clutch.
One more diversion before installing the engine, removed the front bumper and cleaned condensor coils and radiators, it was due
Cleaning the radiators was one of the first jobs I did on my 996 too. Make sure you pull the AC condensers away from the radiators, there'll be more stuff packed onto the radiators...
RMS, flywheel and clutch installed (pressure plate was new when car was parked, a little rusty but not even broken in)
Added fluids, next morning had a coolant puddle under the new tank. After thinking I'd have to drop the engine and remove the tank, I used a flexible head camera to examine the situation.
The tank itself appeared to be ok so I emptied it, pulled the hose off and found a mold line on the hose barb that apparently kept the hose from sealing.
I really didn't want to remove the tank so I shaved the edge of the hose barb, put a little gasket sealer on it, reattached the hose with two clamps and refilled, still dry the next morning.
Before starting the engine, I wanted to crank it a bit to distribute oil to all the nooks and crannies I had emptied. Nothing happened when I turned the key. A bit of research led to using a jumper to bypass the start lock relay. Success. I added gas and tried to start with no success. It seemed the DME (Porsche speak for ECU) wasn't energizing anything. I started back at the key, changed out the electrical part of the switch but no joy. Replaced the blown fuel pump fuse. More research made me think the immobilizer wasn't recognizing the key (only have one). Finally checked fuses (again), no fuse in the DME slot. Next start attempt was successful but ran rough. It threw misfire codes for #1 (P301/P1313) and #2 (P302/P1314), both below the coolant tank. I changed those two coils, cleared the codes with my generic Bluetooth reader and it ran a bit better but the codes came back on the same cylinders. I found a reference to oxidation in the bulkhead connectors where the two engine harness plug in. Apparently long term storage can be a problem there. Deoxit is recommended to clean those so I've ordered that. Meanwhile, I cleared the codes, started it again and let it run for a half hour or so. The confirmed codes are gone but it still shows P1313 as pending.
Great Work! Running is a milestone.
In reply to wheelsmithy (Joe-with-an-L) (Forum Supporter) :
Thanks! It's been a problem solving exercise.
Yet again. Grassroots makes me want a water pumper
Transaxle in, clutch cylinder in, shifter and axles connected, moves forward and backward in shop under its own power!
AC vacuumed and charged today after installing new drier, outlet temp in the thirties! I hope it holds up, held vacuum for days before drier replacement.
Check engine light returned, haven't scanned yet, still runs great.
Bled clutch cylinder again, hoping for better pedal feel.
Working on tidying up, waiting for insurance confirmation before test drive (gently in neighborhood on 14 year old tires).
The AC in my 996 works awesome, freezes me big time!
Scan showed P150, O2 sensor circuit (bank 2, sensor 1), cleared, we'll see if it returns.
Test drove through neighborhood, no issues so I made the 7 mile round trip to insurance office. They would only provide liability coverage before seeing it in person. They young lady said it looked nice, she'd never seen one like it, what year is it? She did a cursory walk around, asked what deductibles I wanted, and said she would handle it, 5 minutes in and out.
Found Michelin Pilot Sport A/S 3+ tires on closeout at Tirerack.com and ordered, wife was nervous about me driving on 14 year-old Kumhos.
Here's my homebrew transmission jack, didn't get a picture with the transaxle on it. The crossbar at the bottom bolts on in place of the regular round lift point. The chain went around the bellhousing and the bolts stabilized the other end. We were very careful rolling it under the car!
Test drive revealed an issue at about 4,000 RPM, kind of falls on its face. It didn't throw any codes so need to consider fuel/air/exhaust flow. I also saw a reference to MAF causing the same symptoms without throwing a code.
New tires came in but OCD kicked in on wheel appearance, lots of prep and waiting for paint to cure.
Moving on to brakes and suspension, will be installing Akebono ceramic pads and Bilstein B6 struts/shocks.
Front lower control arms are on the way after seeing damage on the inboard end. Lots of "while you're there" items.
Calipers rebuilt and cleaned up, front suspension and brakes reassembled, two new tires mounted and balanced, waiting for paint to cure on the other wheels, then on to more shakedown tasks.
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