HELP - '84 5kS went "bang", won't start

["G. Benedikt Rochow" <rochow@segosf.hlo.dec.com>]

When I first cranked it, I let go too soon - it
tends to start very quickly when it's cold, but 
the weather had already warmed up a bit, which I didn't consider.
So I let go to soon, and I *think* it started firing a tad 
before then stopping.
This happens sometimes, as it vascillates between needing a
second or so of cranking + a bit of accel. pushing as per
manual, and starting after a mere blip of the starter.
So, as usual, crank again, and it doesn't go and there's a loud
knocking sound from the right front of the car.
On subsequent tries, only starter turning, but no engine
firing sound or otherwise.
Is there a simple common poppencorken-mit-spitzensparken
defect that this sounds like?
I'd like to try to check some things myself before having it
towed to a shop etc., but where would I start
with diagostics?
(I thought I'd remember, but now I'm not sure anymore that I hear
the fuel pump buzz when turning it on...)
The only things that come to mind now are checking for spark,
and checking for fuel pressure (how?) What else can I do?
(Auto trans, BTW, if it make a difference for anything)

HELP!

TIA,
-gbr