My 1.7L is about to crap out, mild rod knock (rebuild question) Options

[jporsche914]

I bought my beautiful 1.7L 914 about 7 months ago. It is my first car. When i purchased the car it had 3,454 miles on an almost 4000 dollar engine rebuild. Thinking three thounsand dollar for this car was a heck of a deal i jumped at the oppurtunity. About three months later i started to hear a knock coming from the engine. I was told it is most likely an bearing problem . But anyway my question to you guys is how hard is it to drop the motor crack it open replace the bearings and put it back together and have it run. I dont have any experiance with engine rebuilding and i do not have much experiance working an cars but i do know and understand the 914 engines. I have seen many pictures of a dissasembled block and the process lookes fairly easy to do. As much info as you have would be great Thanks!!

[jporsche914]

No the cardboard is not from under the porsche it is from a leaky 1981 camaro.

I have done nothing to the motor but at 1300 rpm to about 1700 rpm where the car idles due to a crappy air fuel regulator the engine has a knocking sound. the sound is not consistent it will knock for a couple revolution of the engine but then it will stop a then start again.

i got the valves adjusted about 200 miles ago and it was knocking even before the valve adjustment.