How probable do you think it is a bent valve? Wouldn't the motor smoke a little bit if so?

I am not familiar with the valve set up on this motor, can the damaged rocker be replaced individually or will the whole set have to be replaced?

Here is my diagnostic thus far:
1. Cam button (if so equipped)
2. Warped cam
3. FUBAR cam lobes
4. Bent rods (but what caused them to bend?)
5. Improper valve lash (too tight/ too loose)
6. Incorrect push rod size
7. Cam spacer (if so equipped)
8. Valve float
9. Improper valve train (as so suggested by Daffy427)

What do you guys think?

-CJP