Jeeze, I tried pushing it backwards in third gear and it would not budge. Fan didn't move at all.
The valves/rods looked fine and the dipstick still had clean oil in it up to the full mark. I checked the oil filter, and was shocked to find the top had a pretty nice layer of loose rust chunks and on it and the top part of the filter housing interior which has to be a really bad thing if those chunks got circulated.
I imagine that the bottom end is toast. The first thought that comes to mind is small block v8, but I don't think I can swing that and an entire new driveline.