Fekbmax, if you can remove the gear out of the cover. Sure! Milodons don't have the typical adjustment like you think. You can get it dead on nuts but you have to index it with the holes for the center screws. It's not like the loosen and move a degree or too and lock back down.
Ted Eaton wrote a small blurb about chain Vs Gear Drive. He dyno both. He felt it didn't rob power. Very accurate cam timing where the chain @6000 RPMs would go retared (because of the slack) would allow it to gain on the top end. I'll find it and post it for you. Very interesting for sure....