It could easily be the oil pump. I'd certainly want to check the pump pressure before committing to an engine overhaul.When the car dies at itle that could be a carburetor or ignition problem.The knocking could be anything.You pretty much have to eliminate one possibility at a time.You can obtain the factory shop manuals on CD these days:
http://www.detroitironis.com/There are 100s of places to by the original manual. Just google 1969 Thunderbird and you'll find all sorts of stuff.