We initially thought it was the head so we bought new ones and fired the truck back up and the knocking was still there. The engine was a 307 bored .040 over.
It sat for a year and I bought a replacement motor, a reman 4 bolt 350 with flat top pistons and it sat for another year. So it sat for 2 years till a month ago we, my father and I, pulled it out with the handy hoist I picked up from a boarded member. I also acquired and engine stand from the same member and put my "new" motor on it to get it off the garage floor.
Once we pulled it out we flipped it over and pulled the oil pan and saw the damage. Said a little prayer and said it was a good little motor while it lasted.
So I salvaged the heads because they were "new" 350 heads. And the Intake and carb, Edlebrock of course.
As for the tranny, I plan to replace seals and clean it up and maybe paint it.