A couple of things to add to the inspection list before deciding on the type of repair to perform:
1. Check the condition of the oil pump, many have been scored by debris from disintegrating tensioners, and others have had significant wear at relatively low mileage. At 30,000 miles the odds of being able to just replace only the tensioner shoes are slim. At the least I would expect to see a need for a new oil pump, and a thorough cleaning of the cam plate passages, pressure relief valve and bore, etc.
2. Definitely check crankshaft runout at the pinion shaft before deciding on gear drives. Excessive runout and gear drives do not mix.
I think you will find that changing to the '07 style hydraulic tensioner system will cost about the same thing as going with gear drives. If the crank runout is borderline for gears but not enough to do a complete teardown, stick with the chain drive system, either old style or new style.
JMHO - Jerry