I would think VERY carefully about buying a second hand lump, you could be travelling into uncharted waters. If you can live without the motor for a week or two, pull the lump out and strip it down to see what's what and make the call on what you find and price up the parts. The V8 is a nice engine to work on and if you are armed with the Overhaul Manual from RAVE you can't go wrong.
You say the noise is like "Piston Slap", could be pre-ignition (Pinking)-doubtful, broken rings-thought it would be burning oil, or a worn Small End (Gudgeon pin). Hopefully all will be revealed if you decide to strip it down.
At the end of the day, the cash and the choice is yours................