Drove it over to my buddy's shop yesterday. Despite What's wrong with it...it drove like a champ. My buddy revved it up and sure enough he hears the pinging / knocking. He also looked at my spark plug and without taking the valve cover off immediately says, that's a broken valve. Says it can be fixed but given what I'm doing with the car it would be in my best interest to get a new / used engine. So at this point, there will be no racing in my immediate future. On I guess a somewhat good note, I can still drive it, just can't race it. Well I can race it but it'll probably be the last time the engine will run If I do...lol So now begins the search for a suitable replacement. Anyone have any ideas on where to look I would welcome your suggestions. Thanks for all your help guys.