Nice troubleshooting work, sounds like you've found your problem.
The reason I had suggested looking at the oil filter was because I had a very similar tapping sound in one of my cars recently. At first, I thought it was an exhaust leak but could find any. Then I thought maybe a collapsed lifter so I tried to track down which one. I removed the valve covers and checked the rockers with the engine running and there didn't seem to be any issues there. Then a friend suggested that I drain and strain the oil. The oil looked fine but when I removed the oil filter and checked it, sure enough there were lots of metal shavings. I'm just glad I found the problem before it became catastrophic. Needless to say but I parked the car for the time being. Going to temporarily swap out that numbers matching engine for a spare built 440 that I have. When I get around to doing a complete restoration on the car in a few years, I plan to rebuild the original engine and put it back into the car but until then I can continue to drive it with my spare 440 installed.
By the way, the Challenger Service Manual provides the following information on how to check for a lifter problem.
Tappet Noise Diagnosis
(1) To determine source of tappet noise, operate engine at idle with cylinder head covers removed.
(2) Feel each valve spring or rocker arm to detect noisy tappet. The noisy tappet will cause the affected spring and/or rocker arm to vibrate or feel rough in operation.