Took the car into Lexus Canterbury last week, and they 'thought' that it was due to an exhaust valve burnt out.
The car had started pinking like mad when running on LPG but just misfired on petrol (still a lot smoother than most cars :P ).
Luckily, thanks to the fantastic Dangerous Brain (and his awesome Aristo), I've managed to source a secondhand head for a lot less than the £3,400 that Lexus actually quoted me (the service manager thought he had better look up the price just incase ). All that remains now is to pick up the head, a gasket set, a Flashlube kit and then screwing it all back together.