[silicon212]

#1, where is the knocking coming from? Top, middle or bottom of engine, front middle or back? Many things can cause a knock and emulate a connecting rod bearing failure ... broken smog pumps and broken harmonic balancers are two biggies ... A connecting rod bearing failure (spun bearing) has a knock that might sound tame at idle, goes away during cruising, and makes a hell of a racket during acceleration or torque need. It is a sharp sound that resembles a baseball bat hitting a baseball. Generally this comes from the bottom of the engine, but can come from the cylinder head area if there is piston to cylinder head interference. A ticking, tapping or hammering sound from the top of the engine signifies valve train trouble - lifter, broken valvespring, pulled rocker stud, loose rocker etc.

#2, With engine running you pull the 4-wire plug from the distributor (the computer wire, SES light on dash will come on, ignore), attach a magnetic inductance pickup timing light (has a clamp that loosely fits over the spark plug wire) to cylinder 1 (front driver's side) spark plug wire ... loosen distributor clamp bolt, aim light at timing mark on timing cover - press trigger on light so you see the mark on the harmonic balancer in relation to the timing "fork" - turn distributor counterclockwise to advance or clockwise to retard as necessary.

#3, if you keep tailpipes on it, it will sound deep without being loud.