Help! Small block 360 has a knocking sound

OK, headphone on this time before i give my opinion.
#1 it sound like its coming from the back of the motor. Flex plate bolts to tq or flex plate bolts to flywheel.
It sounds like the tin shield that cover the TQ(If its still on there) is rubbing. could be a loose bolt there that's causing the noise.
Windage tray in side motor..........Get a piece of vacuum line, 10-12 feet long. pull the dipstick tube and start sliding it into the tube. you wont need to put it in there far if the noise in in there................oh yeah, put the other end of the vacuum line in your ear:poke::D

If its not there then i'm going with carbon knock. if it is really 9.1f compression and it is truly 200 psi compression. carbon is the only answer. Us water down the carb at 2000 rpm and slowly trick it in. If your in a more farming area then i would go with ATF. Caution, it will make one hell of a Smoke screen.

Altho a flat cam is a possibility, i think it would show up as a low hole in a compression check.

This is what i would do first! if you have a shop broom, and it has a wood handle, remove it from the brush and us it as your stethoscope. or go to the lumber yard and buy you a Wood Dowel, 1/2 diameter,4-6 foot long and us that as your stethoscope.

Now probe every thing you can probe. Water pump, alt, A/C compressor. then move your way back on each valve covers and to the back of the block. The loudest noise is where you start. then go up and down, and back and forth from the loudies point.
Now it's time to get some wrenches and go to work.

My money is on the flex plate or cover.