Have to assume that Ford probably has a very good idea of what part is likely to fail under high load conditions - perhaps a connecting rod or excessive force on a bearing. Seems like most on here are wishing it turns out well for the OP and he is appreciative of that.Hi dtech,
I wonder if the con rod snapped and thus no oil pressure as the big end was still attached to the rod journal Then the motor was 3 cylinder for a moment, re the noise and a rod piece exiting the oil pan before op had a clue what happened. That also implies the block is trash as it is unlikely the cylinder wall was left unblemished beyond repair.
There is a reason I ran Carrillo rods in my race engines....
Ranger Vehicle Engineering
Ford Motor Co. Retired
It is pretty amazing how sophisticated mfg processes and quality control is today, as well as very accurate/capable design with all the programs and computer modeling.