If the oil light came on, and you shut it down right away. The engine could still be good. If it ran low on oil and starved and seized or started knocking <img src="/forums/images/graemlins/frown.gif" alt="" /> bad news. Tear it down and look.

I'd look for a good used running motor vs a rebuild, usually cheaper, even in the long run. Unless you find a very good engine builder.

The clunk in the front is likely upper control arm bushings.

Curt B 89RS Calmini Header Delta Cam 33x10.5 BFG MTs & 90 Trooper 3.4 v6, SAS D44 ARB/Hobart 5.38s 35s my pictures