Thanks for the replies.

I am using Rotella 15w 40.

The knock will go away or lessen severely after idling a while, its almost unheard above 3000 rpms, loudest around 2500 (also engine seems to vibrate more around this RPM, stuck valve?)

The first video is at hot idle after driving around for about 20 minutes.
VID 20110830 173328 - YouTube


This second video I am revving it up right around 2500 RPM's where it sounds worse and letting off.
VID 20110830 173540 - YouTube

 

Where is your engine fan?
That is a rod knock.
I'd replace the bearings and drive it.
If it continues after that then either look into rebuilding it, driving it until it blows up or source a used engine.

 

Lol I don't currently have an engine fan. I live in a pretty cool climate anyways and its stayed below half no problem without it. I planned on getting one but considering I barely drive it I just haven't gotten around to it

So yeah ... lower end rebuild, great! Never done one before, I suppose there is a first for everything.

 

I wouldn't touch it. Like I said before, I've heard that sound on plenty of Rovers and it is not life threatening. You can do as you please but I would just keep driving it and maintaining it.

 

If I pull the oil pan, can I visually inspect and be able to tell if it is rod bearing? I see they aren't particularly expensive, so if thats it and its not terribly hard to replace I will do so.

However if it is wrist pin and there is nothing wrong with the rod bearings I will leave it be, fix the exhaust so that it maybe quiets up a bit.

 

A feeler gauge, there is a spec on what should and should not fit between the bearing and the rod cap, I do not know what that spec is but I am sure Google does.