617 going bad?

[airbus]

I read a couple of posts about knocking 617s, so here's mine:

http://www.youtube.com/watch?v=Y1mEotCVSUg

This is the car I bought for $400, not even knowing if it was running. I did a compression test (320-300-340-300-320), adjusted the valves, had the injectors tested (all good) and I'm assuming that the diesel I bought at the local Gulf station is good. What do you think? Sounds like a rod bearing to me...