I have a 1994 f150 supercab 5.0, Recently overheated motor. I fixed the thermostat and hose that blew out. I changed the oil because of the extreme temperature it reached, The gauge was pegged before I realized I had a problem! When I start it, you can hear a Lifter tapping. I drove it to work and about half way (7 miles) my oil pressure gauge went to nothing. you could hear a lot of tapping. I let it cool off and added RESTORE to the oil. Oil pressure came back, can only hear 1 lifter. Motor is still running pretty strong (214,700 miles), I've been driving it for about a week and everything seems to be running consistently.
What would be the next step in life support?

 

sounds like a rod bearing to me. time for a new engine or a rebuild.