Looks like you dodged a bullet! Good luck; just keep a sharp ear on that engine. You certainly don't want to end up with a hole in the side of the block.
sounds to me like the noise you heard was what is know as pinging, where the timing is advanced to far and causes a "pre-ignition". this is very different than a rod , or main bearing knock. this will affect the engine running temp. I hope that is the case. if you ever hear a bad rod knock you will not forget it.