Also, if your determination that the noise occurs just as the exhaust valve opens, (which is just before bottom dead center) is indeed correct that too eliminates ignition related knocks and valve clearance, and valve recession. The aluminum pistons in the 8/1 run with more clearance and also seem to magnify noise. That you have experience with these engines is telling as you are used to the noises they make. What cannot be told is if you are simply nit picking the small increase in noise that the aluminum piston engines have or if you have a real issue. Over the years similar mysterious knocks that occur at or near BDC can be traced to excessive skirt clearance, tight or loose wrist pin fits or alignment issues due to bent connectting rods.