Hey guys/gals...
This is still bugging me...so I made a Youtube video/audio.

http://www.youtube.com/watch?v=PMlOemrjyk8

TURN UP THE VOLUME LOUD to hear it properly!

BTW it's a 2002 WRX with approx. 94,000km (Canada eh?)

Here are the details:

Can't figure out what it could be...many people on the forums say many different things... After the engine temp has reached it's normal operating temp (approx needle slightly below half), the noise goes away almost 100%, maybe still audible just slightly when warm (5% of original 100% when cold etc.). Ticking is also in sync with RPM. So the higher you push the RPM the quicker the ticking goes as the video/audio shows.

So far here are the possibilities:
1) Timing belt tensioner (should be replaced if this is the case)

2) loud lifters (apparently normal???)

3) Oil issues (gonna try another type)

4) Gasoline issues (I put in min. Octane 91 Shell or more. Sometimes 94 Sunoco when I can afford it

5) Piston slap (not good if its the case!)

Took it to the dealer but ofcourse the engine was no longer cold, so no noise could be heard and he told me evereything sounded normal.

With this video/audio maybe someone can give a suggestion as to what it may be...my last alternative is to leave the car overnight at the dealer, but this is very difficult for me to do right now..... Thanks all!