Chevrolet Repair: running without oil, old cam, horrible noise

Question
Hello,
I checked my oil a month ago and it was fine.  Started the car last week and it was making a noise (not uncommon for a 1980 malibu) on the way to work.  On the way home it got worse, I checked the oil and there was hardly any.  The weather out here has been freezing cold in MO.  I never had problems leaking oil and I think it burned off.  I don't see any leaking under the vehicle, either.  I put 5 quarts in and the vehicle starts, but won't sit idle.  Its a 3.8 229 chevy; I made a huge mistake, what is the most cost-effective repair method?  I'm assuming that it can be repaired since it didn't lock up on me. The car will drive, but stall when not moving or given gas.    Could it be the valves making that horrible noise?  I have a 6 month old cam in her... Thank you very much.

John Leca

Answer
Hello John,
First off, quit running it, except to test the oil pressure. Then get the engine out and drop the pan to see if there is damage to the crankshaft.
I doubt any damage to the cam, but the crank could have been scored.
If you like the car, do that before damage is done, and if it has been damaged, you can have it turned or replaced, but do it before it throws a rod through the block.

Good luck,
Van