acquire parts car, engine knocks, sputters, but can kinda drive... worth saving?

[thirdman]

Ok, so I acquire a parts Festy for cheap (parts swap), knowing full well that the engine had "issues". Finally got around to firing it up, and it idles ok-ish, but with an occasional clatter. It will actually move under its own power, but not happily: with all sorts of clattery-knock-y badness.

It has oil, fresh gas, but after driving around the block a few time, the oil light started to flicker on. I pulled over and turned it off, and after letting it sit for a bit, I made it the rest of the way around the block without the oil light coming on, but still clatter-rific.

Is there any reasonable way to determine the source of the clatter without committing a ton of time or money? I didn't buy it for the engine, but I am curious if it is redeemable. I have strong evidence that it might only have 100k miles on it...

Thoughts?

[bhazard]

Oil light and knock typically means spun bearings or something in the bottom end. It's not holding pressure anymore. If the rest of the car is decent just drop in another engine.

In the meantime swap out the oil and filter and run some really thick oil like straight 50 weight lol... it might make it around the block then.

[WmWatt]

How much diagnostic equipment do you have? A compression guage would be informative, and since the engine is turning over, useable. Even without any equipment you could remove the spark plugs and read their condtion. If the engine will idle you can use a piece of hose as a stethescope to idenify the source of any noise at idle. Sounds like a fun mystery worth solving if you have the time.