How hard was the car driven for those 75K? A well maintained 350 just ain´t gona break with that low mileage.
Beleive it or not a bad cat sounds exactly like a bad rod
Keep an open mind; don’t blame the most expensive part. Get a stethoscope and try to pinpoint the noise.
SBC big-end bearings tend to make a lot of fuss before they give up. Even when you bore em, stroke em, & supercharge em, they usually call you and tell you they are unhappy long before they buy seersucker suits and move to Miami.
Get a piece of an old bedsheet and pour the contents of oil filter through it ... take a close look at what remains on the fabric. DO cut the filter open just below seam (tin snips) .. pour any remaining oil through fabric ...
Send the oil off to a lab if the bed sheet test doesn´t give you a good feeling.
¨spun bearing¨ is like a lot of other tech lingo. It means different things to different folks. With the Formula racing mechanics a bearing is spun when it wears to the point that one side of the shell, (bearing), can slip underneath the other side to some extent. This leaves the raw metal of the conrod banging against the crank on one side and 2 pieces of very hard bearing jammed against the crank on the other side. (Not good) If the engine does not lock up from the friction the crank and conrod will be severely damaged.
You can inspect the lower end by removing the oil pan, but forget any repairs. The C-4 engine is so easy to remove that any attempt at major repairs with the motor in place is insane.
If money, time or both are important go with a rebuilt short block. You will be back on the road in a few days for about a grand plus labor.
So I guess I will chime in an ask.. How much can you afford?
If you got more cash, U B N D right place. With me topping the list, there are lots of people here at CAC who will be happy to help you spend your $ in the evolution of your L98.