You sound like me. A couple of years ago my '88 hit 204,000 miles and I started to worry about the timing chain. I was accustomed to AMC V-8s, which used nylon teeth on the cam sprocket, and those would wear down and let it jump time.
So I bought a timing chain and new sprockets. The replacements were all steel gears, and the chain was a roller style, not the flat style I was expecting. Hmmm ...
Opened up the engine, and the old chain was so tight you couldn't really see any difference between it and the new one. I threw the new stuff in because I wasn't doing all that work fior nothing, but I saved the old parts and would not hesitate to use them in a beater engine.
The factory manual allows 1/2 inch of play in the chain, which seems like a lot but with all steel gears it isn't likely to jump a tooth. If you have been reasonably consistent about oil changes, I don't think you need to worry.