I agree with you Taz on the last 2 paragraphs but I just would not just tear down the engine at this point. Why? well first Engine wear is not always chips and particles. If you follow the path of the particles more than likely no major chips will end up in the oil pan unless the particles made it past the cylinder walls. I have dealt with engine analysis for some 21 years and can tell you it works. Thats why airlines, fleet mgt., Military etc. use it. Spectro analysis if you understand it can show you where the wear is occuring, bearings, rings, pistons etc. It even shows if your ingesting dirt or have contaminated fluids! Again some things that are checked are IRON, COPPER, ALUMINUM, CHROME, TIN, LEAD, SILICONE (INGESTED DIRT), SODIUM ETC. If there is any wear whatsoever it will show up on the sample. you will not be able to check lower end wear unless you completely tear down the engine without sampling.
This case is obviously a mess and I would never have gotten into it. This is one of those things that just isn't right from the start.
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http://www.amsoil.com/performancetests.aspx