I'm no super mechanic, but these are my opinions.
1. Where is the "ticking" noise coming from? It could be a lifter, or it could be a cracked or loose exhaust manifold. You might also want to check the timing chain to make sure it's not loose while you're in there-160,000 is about time.
2. shouldn't be the clutch master making the ticking noise. I recommend changing the clutch master and clutch slave when you change the clutch, but that's just my opinion. sooner done the better, you don't want to get stranded somewhere.
3. the front of the air conditioning compressor where the belt runs on the pulley has a clutch on it too. When the system is activated(either with heat or a/c on) the compressor will cycle, meaning that the clutch will engage/disengage- meaning the middle of the pulley will spin for 10-15 seconds, or however long the cycle lasts...