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You can do just about anything with the engine in the car, but it would be easier with it out, for sure. On either engine, you'll probably have to get under the timing chain cover to adjust cam timing with the stock gear (moving it by one tooth). You'll probably have to release tension on the chain to do that, which means getting to the tensioner that sits about at the top of the crank pulley.
It can be done with the engine in, but it's a pretty huge pain. I rebuilt my DOHC engine in the car, and the timing cover is by far the worst part. You have to reseal it with RTV when you put it back on, and it's nearly impossible to slide it in without making a huge mess with that stuff. If someone made a premade rubber gasket for that cover, our cars would be the easiest things in the world to work on.
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