Well, I've been running with rod knock for almost 6-7 years now, and boosting hard with a T04 turbo for almost 3yrs(see sig). I've been running mobile1 15w50 full syntec since my last rebuilt before the knock, not sure if thats helping my engine last that long with the knock. Keep in mind that I have a spare engine in storage that I will be fully rebuilding once that one goes out. I'm kind of hoping she goes:biglaugh: , but she wont give up yet. The last time I had a knock, the engine gave out on the highway, on the way to the mechanic shop after about 5 months of knocking. Rod knock is weird like that! I guess it depends on how bad the knock is. Mine hasnt really showed signs/sounds of deteriorating. If you do plan on rebuilding/fixing it with the same components, I would try not to drive it as you can damage the crankshaft some more. Me I just said F#$k it and ignored it, but It paid off for me. I got my moneys worth on my last rebuilt.
Good luck