Got to be good for a giggle Moffe - I discovered that with mine running on Megasquirt it stopped knocking like a shagged diesel for those first few minutes when it's cold.
Got to be that the 2.3 doesn't suit the standard Sierra 2.0 ECU and it's either det or pinking something rotten which is causing that noise on cold.
Under megasquirt it don't do it whatsoever - perhaps my bores aren't fooked after all!