Nevermind my above post.... I did a closer search and found this thread. "M.B. Doc" stated the answer....

http://www.peachparts.com/shopforum/showthread.php?t=56966&highlight=knock+sensor

but then I searched and found this thread, with a TOTALLY different answer about knock sensors.

http://www.peachparts.com/shopforum/showthread.php?t=26804&highlight=knock+sensor

I hope it is not that my engine is simply worn out. I never really worried about it before, but since I have been reading this, I am starting to think about it.

Someone said they had a 300E that did this and it ended up being worn cam lobes, but it only did it under moderate/heavy acceleration. Mine only does it at lower RPMs under light acceleration. It is very faint however, but I can still hear it and it concerns me. , but I refuse to spend $$$$ on this car, so I will keep on driving it, but easily.

Thanks.