Is this a Knocking engine, or Piston slap?

I had a dying lawnmower that would piston slap. Granted a much smaller engine than your 2.7 but still did not sound like that. Replaced the B&S mower with a electric start Honda and the sound went away.

 

Thank you everyone!
This puts my mind at ease. I love this truck way too much which is why I'm paranoid instead of just enjoying the truck. Glad I'm not the only one with this sound.

Thank's again!

 

Now, switch out the rear diff fluid for the real surprise

 

Ha Ha
That has already been done. Looked fine, especially compared to a Ranger I used to own.