I asked about this before. A guy I know has a real mean 64 Falcon, 302 w/Cobra heads and manifold, custom designed exahust, the works. He's an engineer by trade basically.
The reason you have the knock is that a synthetic cleans much better than a conventional. The detergent in the synthetic is cleaning away a lot of the gunk left that the coventional oil wasn't able to clean. In the process of doing so however, it's exposing areas that were covered in gunk. Every single person I've talked to who has switched their motor to synthetic after running conventional for at least a semi-long time has had that exact same problem. The cure is a bit painful to the wallet. You want to run the synthetic only for about 600-1000 miles. After 500-1000 miles, drain the oil, change the filter, and put new synthetic in. That usually cures it.
However, if it is a new/rebuilt motor, you don't want to run synthetic for at least 3000 miles. Synthetic before 3000 miles can become your worst enemy by wiping out the cam bearings.
In the sixes, you will need to make sure the fuel pump bolts are completely tight, regardless of oil type and especially with synthetic. How do I know? I've been there. If it were not for this forum, chances are I'd still be there.
One final tip. If your motor is not freshly rebuilt but you plan on doing so later remember this. After the motor is put back together and filled with conventional oil, run it for 15 minutes (I ran mine for 30, but I should have only done 15), drain the oil, change the filter and put fresh conventional oil in. This will eliminate most of any remaining metal shavings.