307 olds knock?

i was wondering if i have to rebuild..i know the rockers and timing is ticking but around 0:29 into the video you hear the knock when the car accelerates...the car has 500,000 miles so i was thinking if i should just get a new engine or rebuild...ooh and plz no bullshit comments. this video is for info only not for showing off..---- I JUNKED THIS CAR---

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ROD KNOCK!!! What it looks like inside the engine.
Check out rod bearings and pictures on Amazon HERE: http://www.amazon.com/gp/product/B007P73RZQ/ref=as_li_qf_sp_asin_il_tl?ie=U TF8&camp=1789&creative=9325&creativeASIN=B007P73RZQ&linkCode=as2&tag=httpww wyou00f-20 ROD KNOCK!!! What it looks like inside the engine. How to determine if you have rod knock by taking off the oil pan. This car is a 1996 Toyota Paseo 1.5 liter. The oil circuit for cylinder one got a piece of foil blocking it. The connecting rod on that cylinder died an ignominious death.

the knock of doom...
a tour round the El Camino also the dreaded engine wrist pin slap...

307 Olds
Rigged the motor up and got it started. Just need to go thru and redo everything and it might be alright.

What Engine Is This?
I'm considering on purchasing another car. The owner tells me this car is equipped with a 406ci engine. I believe the 406 was a Cadillac V8 engine. To my eyes this engine looks like a stock 307 Oldsmobile built engine, what do you guys think?