Rebuilt 340 knocking sound

AJ/FormS said
Hang on man;
Compression RATIO is fixed, but
compression pressure varies with the actual closing of the intake valve.
Obviously in this case, a rod-knock has nothing to do with either, but IMHO you need be more accurate.

Ok, let me try to be more accurate then.
Engine is knocking.
Compression is a mute point.
Engine probably had a assembly error resulting in the knock.