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Not that likely. I replied to your "need new engine" post, if that has anything to do with this one.
If the noise shows up when warm, it probably is a rod knock. If it shows up when cold ALSO, then it is more likely piston slap. Which is really not that big a deal, but you might be able to GET a good deal on it because of it.
Also, unless you don't mind paying some big machine shop bills, get a used engine. And unless you have a good rebuilder doing the job, the used engine will probably be better off anyway.
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1992 940 wagon, low miles as well as others.
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