Engine rattling and loosing power

My 92 Stanza has started rattling recently. I thought it was the valves needing adjusted (I am not a mechanic). On my way to work a couple of days ago it just started loosing power, it would sort of quit and pick back up again. If you tried to give it fuel it would bog out. Then it would pick up and run correctly for a while, then cut out again, it got so bad it wouldn't hardly pull it's self. I nursed it into the local garage and they checked it out for me. They say I need a new timing chain and oil pump.
Normally I wouldn't question their judgement, however the mechanic told me that he adjusted the timing and the car ran well and quit making the noise, then when he went to take it out for a second test drive the problem was back. My question is could the distributor have an effect on the timing chain and noise? I drove the car home last night to store it until I can afford the repair ($900) and it seemed to run much better. It still cut out occasionally but made it home without a problem. Does anyone have any thoughts or has anyone had a similar problem in the past? Any help would be appreciated. Tom

I'm not too familiar with you vehicle, however there ar basic things to check for such as fuel filter. It could be plugged. Vacuum leaks, resticted air flow(air filter).
When did have your last tune up?
Digging deeper, It is quite possable that your timming chain tensioner is bad.
Do you have a check engine light on? Are there any codes? Go to your local parts supplier and see if the can get a scan of your vehicle to point you in the right direction.
Start with the basics before digging in too deep.

For your question about the distributor, no it has nothing to do with noise and chain. But only with ignition, which is not your problem.
The timing belt that your mechanic talked about is the one who synchronize the valves of the camshaft with the crankshaft of the pistons.

Check the chain tensioner is a good idea to start. But maybe the lack of power is not related to the noise, it could be a coincidence.
Which can be also caused by a weak fuel pump, clogged filter or a bad sensor, like a bad TPS or MAF/MAP sensor depending what you have.
Or like toddman67 said, a vacuum leak.

So it worth to check fuel pressure and the rest before replacing the chain.

You should ask your mechanic to let you see the chain. If it doesn't have sign of damage, there's no reason to replace it. Usually when it's bad, it brokes in one shot. It doesn't cause the problem that you describe.

However, how loud is the noise?