yes engine manigement light will come on and if so worth checking cam cover off and check the protrusion on the tensioner if it is fully extended new chain and tensioner are needed another common fault
but thats why you can get these on a 2004 for just over a grand
mate of mine has a car sales gets them for 650 ish from scottish moter auctions quite often has hios fingers burnt with gearboxs but all cars have there problems