2003 v-6 3.0 L Toyota Camry. The check engine light was on and the Codes said P0016. Parts that were replaced were crank shaft sensor, Mass Air flow sensor, V V T sensor. The car ran fine but the check engine light was still on and code P0016 still present. The timing belt was checked and all the marks on the crank shaft and cam shafts were re aligned each to the respected marks of alignment. The engine was reassembled and started. The check engine light disappeared and no codes showed up but the engine had no power.
If the engine is heavily sludged, check the VVTi solenoid and its passage for blockages. A fault with the lubricating system can cause the problem. The timing belt has marks that allows you to verify the timing belt is installed correctly so I don see any problem with that but the aagin on vehicle inspection fo the marks are not easy to see, especially the inner bank.