If you shut the engine off in time the rod would be ok. Some people are hard of hearing and don't notice the knock until the bearing literally spins out of place and can start wearing into the rod. I have re-used a bad rod once in a 350 Chevy and it worked fine but I wouldn't have dared to take it on a long trip. It always worried me but never failed me. If that 96 Olds has a mangled rod then it wouldn't be worth fixing.