I had that same CEL code come up right after I bought my CSVT. I replaced the cam pos sensor myself (very easy, very accessible-took two minutes), pulled one of those fuses to clear the codes, and it never came back on. I later had some other work done, which involved the dealer pulling codes, and they never mentioned anything about a code for the cam pos sensor code being stored in there or anything. Problem solved.
However, I *was* told that a bad cam pos sensor can cause the fuel/air mixture to go wacko, which could cause flame in the exhaust, which could mess up your cats and 02 sensors...but who knows?
