To me ,it sounds like you caught the problem in time. you probably "spun" a bearing. This would cause low/no oil pressure,and a rod-knock. Did you "'plasti-gage" the bearings,before the final torque? We installed a Buick Diesel,in a Toronado,that SUPPOSEDLY had 30,000 miles. Since we needed the pan re-welded,(guy drove the car 30 miles with 3 rods sticking out in various places-mostly the pan)! We double checked the bearings..Three or four were out beyond.006! One was .008!! We had the crank ground,and new bearings installed. Hang tight! Don't give up... Spring's around the corner and construction will pick-up. You may be able to do this repair in-frame. There should be play in all of the rods,except for the one,(hopefully not more),that's stuck. Hopefully,bearing brass scored before gouging into the crank. No shavings is a GOOD sign.The sheen in the oil is from the cap(s).it peels like gold foil,then gets diffused through the oil screen. GOOD LUCK!!
