Well... I am still working on this problem. Over the last week I completely removed my motor and went through it.
1) No metal shavings in oil, so fairly confident it is not bearings.
2) Installed Hybrid Racing tensioner
3) Removed Intake cam to check the VTC. I did the VTC actuator test that is in the service manual and it worked fine. It was in the locked position when i pulled the cam out. Using air pressure was able to unlock it then it re-locked as it should.
4) No abnormal wear on the chain guides
5) Confirmed it is not the starter making the sound. First by removing the flywheel cover and shining a light up inside there while my brother started the car. The starter fully disengaged after starting even though the sound remained. Also I wired up the starter on my workbench including the solenoid and ran it with no abnormal sounds.
6) Re-adjusted all valves to spec and double/tripple checked.
7) After i put my motor back in and got it all together, I kept the injector clips off and cranked it for about 5-6 seconds to circulate oil to the engine. I didn't hear the sound. But after I started it, it made the sound longer than I had heard before (probably 3-4 seconds this time). I'm attributing it to not cranking it long enough, especially since I had drained every bit of oil out of this thing as it was on the stand.
I think everyone is aware of the service bulletin put out by Honda for the VTC on accords. I was not aware until this last friday that there is the same service bulletin put out for 2009 TSX (10-024). I got a soft copy of this from the acura dealer and can email it to anyone that is interested... it has the full repair procedure for the VTC actuator.
No matter who i talk to, including several very experienced people in the Honda game, mechanics and multiple Acura dealers, no one has reported any experience with the VTC actuator actually failing on an RSX (strange?). Isn't the TSX head almost the same as a K20a2?
The bad thing is taking off that VTC actuator is a pain in the ASS!!!! Especially by your self, and it is very easy to damage the cam journal when doing so if you are not careful. Putting it back on is just as difficult, especially keeping it in the unlocked position as you torque the thing to 83 ft lb.
The good news (if it is the VTC actuator), I don't see how it can cause internal engine damage. I took apart the actuator on a set of spare cams I have just to make sense of it all. The only thing that can really go defective is that the pin doesn't lock back into it's slot. Worst case the cams are bouncing back and forth between 0-50degrees advance for the first few seconds after start-up. Especially in my case, since I have low compression pistons (9.8:1), there is no interference with valves even at the max cam advance. Which would explain why my shit still runs great after making this heinous sound.
I'm going to try starting it up again in the morning to see if maybe it is gone with this Hybrid RAcing tensioner since the start-up today was essentially a dry start. If not, I'm ordering the VTC actuator tomorrow and will keep everyone posted on results.
Two more lil bits of info:
1) Check this video out:
http://www.youtube.com/watch?v=JLk8iX3L9o4
2) So far I haven't seen any bulletins for the 08+ Civic SI. But I checked with Honda and the VTC part number is 14310-RBC-003 even for a 2002-2004 RSX-S. So it's the same actuator for civic si... You can also confirm this from acuraautomotiveparts.org on the exploded view.