2001 Chevy S-10 cataletic converter

Do you have a check engine light On or has come On and disappeared? When was the last tune-up?

If the catalytic converter is plugged, it will create a restriction in your exhaust system. The buildup of backpressure will cause a drastic drop in engine performance and fuel economy, and may even cause the engine to stall after it starts if the blockage is severe.

The easiest test for converter plugging is done with a vacuum gauge. Connect the gauge to a source of intake vacuum on the intake manifold, carburetor or throttle body. Note the reading at idle, then raise and hold engine speed at 2,500. The needle will drop when you first open the throttle, but should then rise and stabilize. If the vacuum reading starts to drop, pressure may be backing up in the exhaust system.

You can also try to measure backpressure directly. If your engine has air injection, disconnect the check valve from the distribution manifold, and connect a low pressure gauge. Or, remove the oxygen sensor and take your reading at its hole in the manifold or headpipe. Refer to the backpressure specs for the application. Generally speaking, more than 1.25 psi of backpressure at idle, or more than 3 psi at 2,000 rpm tells you there's an exhaust restriction.

The valve noise could be excessive valve lash or lifter problems or is not being lubricated properly due to clogged oil gallleries/worned camshaft bearings within the valve train