Please help diagnose 03 Ranger 2.3L knock with video

[Rangstang]

Hi guys,

I purchased the truck with this issue, so only thing I've got is what the previous owner told me. He said that it just "happened" on the way to work and he had it towed to his friend's shop who suspected a bad oil pump. I've checked oil level and verified no continuity at the oil switch with engine off and continuity with it on so I know I'm getting at least 5PSI per what I've read online. I also verified the oil level dropped around 3/4" between OFF and running and replaced the filter in case the filter's internal valve had failed. I know nothing about these Mazda engines as I'm really a 5.0L V8 guy. Please give me any suggestions or tips you have. Thanks!

Here's a youtube video link:

 

[Rangstang]

Could this be a cracked or damaged cam follower (bucket)? Or is it more likely to be an oiling issue in the top end? According the the previous owner, it occurred suddenly which makes me lean toward something breaking or cracking...

 

[WarHawk-AVG]

You don't have a oil pressure gauge on the dash? Might want to go with an after market one just to make sure you have oil pressure.

I had to install an after market temp gauge because the one on my dash doesn't move at all...

 

[surftile]

Have you done anything to your motor yet? I did this fix and my "03" it purrs now.

http://www.therangerstation.com/forums/showthread.php?t=140519