If there truly was metal in the oil, it doesn't sound good.
The knocking could be a number of different things in the engine, but it could run for a long time - or it could blow today.
I once had a motorcycle that had metal in the oil, and knocked. It was definitely an engine problem. However, I kept the oil and filter changed, drove it for a year and then traded it in.
Again, it does sound like a bad problem.
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Wednesday, July 11th, 2007 AT 5:52 PM