So I can't hear that real well, but if all that is backfires, it's consistent backfire for sure. But it doesn't sound like it's both exhaust and intake. Whatever the noise I'm hearing, it sounds like it's coming from the same place everytime. If timing is out, it's going to backfire BOTH intake and exhaust. Not either or. The way that sounded to me, and don't hold me to this cuz I may not have heard it right, but from what I did hear, I'd be thinking a valvetrain problem. Either a burnt valve, or maybe even a flat cam lobe and a valve isn't opening as it should.
Do you have a compression tester? A compression test can also tell alot. Or even a vacuum gauge. Put a vac gauge on. Just T into any vacuum port, (not a ported vacuum) and watch the vac gauge for needle movement. It could be a bouncing needle, it could be an erratic needle and both indicate an internal engine problem which could be valve timing, burnt valve, valve not opening etc. The thing a vac test won't do, is tell you what cylinder is having the problem, it'll just tell you there is a problem. The compression test can tell you which cylinder it is having the issue then you can further inspect that cylinder.
Anyone else have opinions? More heads are better than one. I don't know everything and maybe I'm missing something.