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I may be wrong due to only having heavy experience in 2000 plus but.... can u flash any codes? What are your fuel trims? +-5 long term is a fair place. ASSUMING your knock is NOT caused by out of wack fuel trims fom a bad o2, bad knock could potentially keep ecm from going into closed loop.however I would suspect you o2 to bounce between 90 and 1000mv In or out of closed loop. Those o2s are wicked cheep, I would start there if it was me