This is what my rod knock sounded like:
https://www.youtube.com/watch?v=x-RxN5e ... e=youtu.be
And I'm not going to try to steer you one way or another, but they both have upsides and downsides.
With a motor replacement, it could be cheap and you could get one with a warranty. That doesn't cover your labor in case the motor is bad, but it helps. Most quotes I got were around the $3,000 mark.
For me, rebuilding would be pretty costly because the crankshaft will most likely also be worn. At some point it becomes a full engine rebuild and idk the costs of doing that yet. I know the parts costs for doing the job right are pretty significant. Another issue is downtime while the engine is being rebuilt. Then we can only hope the rebuilder is pretty good and/or offers a warranty for the work.