I pulled out my old 272 (55 club sedan) some time ago. Reason - awful knocking sound and rear main seal that would not quit. Never thought to check the 55 Fordomatic flexplate until just the other day - it is loosey goosey at both ears, (3 hole ear, one top, one bottom, original to car). 272 does not use much oil, has good power, compression, etc.
Would the flexplate cause the knocking sound and how about that rms issue? Also, what is the application for the updated 4 hole flexplate I have heard rumors about, and can it be fitted to my original torque converter?
Dan
Daniel JessupLancaster, California
aka "The Hot Rod Reverend" 
check out the 1955 Ford Fairlane build at www.hotrodreverend.com