HELP - Do I have a Rod Knock or Bad Lifter?

[NO SLO PK]

Guys this is killing me...

I did a pass in my 5.0 at Fontana last March. When I got onto the return road I noticed a ticking sound from the engine.

Over time, the ticking has become louder, more like tapping. Now the tapping is sounding more like clacking.

The noise used to disappear when the engine warmed up. Now I can hear it all the time.

I pulled both valve covers and everything checked out okay...no broken push rods or rockers...everything in spec. (DARN!)

It's definitely not exhaust. I've had those problems before.

I was thinking it was a bad lifter, but it's getting so d*mn loud so I wonder if it's worse.

How can I find out without pulling the motor?