anyone have any clues on what is causing the p303 code? misfire in cylinder number three.

I misfire is usually caused by an ignition system problem.

Check the coil, wire, and plug for that cylinder.

well i checked for spark.. and its fine.. it idle rough when first turned started. also theres some slight ticking that i hear from the head. been there fo awhile though. can it be my exhaust valves ?

I had the same code a year ago with my car (2.2). First I changed the plugs, then the wires, checked the coils, figured it must have been fuel so changed the injector, and finally did a compression check. Compression numbers were 180, 180, 75, 180. My exhaust valve was burned, and the guide was so worn that the valve would move about 1/8" back and forth. Amazingly I still had no oil consumption.
I had the head rebuilt, and it's run great since. It was rebuilt at 175,000km, and now I'm at 198,000. It was a gradual loss, so it wasn't really obvious until it got really bad. The computer figure out something was amiss before I did. It did sound unusual at idle when cold though, and there was a slight bit of noise there too, but not much. To me, it's always been a noisy engine.
I would do the compression test first to see how things are there first before investing in any new parts. Hindsight is always 20-20...
John

"It did sound unusual at idle when cold though, and there was a slight bit of noise there too, but not much"

wow you hit on the dime with this one. ill get it tested this weekend. and post it up then. im sure my exhaust valve is like how you explained. im hearing slight ticking sounds from that cylinder. and the smell of fuel also.. very slight