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Disconnecting the knock sensor will set a Code 43 and can result in sluggish performance. It won't really have any effect in trying to test for noise in the valvetrain.
The whole premise behind this system is to have the sensor detect "knock" and pass the signal onto the Electronic Spark Control module which is the square relay just to the outside of the heater fan motor. The ESC will then shut off voltage to the ECM which results in timing being retarded. This happens above 850 RPM or so.
You will really need a scan tool to do troubleshooting. There will be displays on the scan tool to tell if the sensor is really detecing a noise. There is also a display to show how much spark retard (timing) is being done by the ECM.