I didn't want to comment, sounds like a rod/wrist pin knock (the result of detonation very likely here)
If timing isn't set then that is very likely.
Wait for someone with a light to set timing. Usually second thing I do when I start an engine, then top off/cap the rad. Oil pressure first check!
I wouldn't start it till you set the timing, definitely don't let it idle that low.
I think your going to be good to go!
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