HI smackd1. Welcome to the forum. If the noise goes away after a few miles of normal driving, I suspect air was whipped into the oil from the rotating crankshaft. Many engines use a "windage tray" under the crank to reduce that effect.
Air bubbles in the oil allow the oil to compress. This results in a reduced ability to isolate moving parts, (crankshaft from bearings, pistons from cylinder walls), and hydraulic lash adjusters or lifters won't pump up properly resulting in clattering. That noise will go away once the air bubbles are expelled.
As for the smell, extended high speed driving can cause excessive oil to build up on top of the cylinder head when it can't run back down fast enough. That's a temporary problem but it can lead to oil being pushed out of the fill cap or vapors being pushed out that condense on top of the engine and look like a leak. That oil will burn off eventually if there are no other problems.
Saturday, October 2nd, 2010 AT 9:20 AM