Finally pulled the motor to view the carnage...

I did not see any evidence of water in the cylinder, but I will double check later tonight. The head gasket was intact, and there was not evidence of corrosion....but I'll double check and get back to you.

Thanks
Nope, no evidence of water, head gasket was intact. I don't know...the rod could have folded from the years of abuse, then the broken piece of the rod hitting the block which the crank spinning caused the baring to get crunched (just speculation). Being a bracket racer, I have been known to Womp Womp Womp a few times...lol. I'm sure that didn't do it any favors.

Doesn't really matter to me, I'm just going to rebuild it....stronger and faster :-)