possible piston slap

I have a 1988 Lincoln Town car with a 5.0 V-8. This car has only 59,000 actual documented miles on it.
The problem I am having is what I think might be piston slap.
When the car is cold and on a cold day I can start it and everything is fine for about a minute or so until the oil thins out a bit, then there is this noise which seems to be coming from the passenger side of the motor resembling a bearing or diesel sound. The noise is actually louder when I am sitting in the car. This noise will completely disappear after the car warms up after being driven about a mile or so.
Is there any kind of additive I can use to help? will this destroy the engine? If so how long does it take. As far as I know it's been doing this since new.
About the only info I could find on the net about this was here, http://www.coolcats.net/tech/troubleshooting/ping.html , but not sure if I should believe it.
Any help would be appreciated,
Thanks
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Sure sounds like a piston slap. The bad news is that it won't get better, but it will get worse. It may run a long time like that, but eventually, you'll crack or fracture the piston skirt.
Picture it this way - if you took the piston out and repeatedly hit it with a hammer, what would happen? It would eventually crack.
With such low mileage on the motor, it's likely that the piston is defective anyway. I can't see any cylinder having so much wear in that engine that the piston is loose.
There is only one fix and I'm sure you know what it is. Fix it before the piston skirt breaks and does even more damage.
With that low mileage, it's perfectly acceptable just to pull the piston and replace it with a new assembly, as long as the cylinder wall is not damaged. Use the existing rod bearings and just hone the cylinder first. This can be done in the car, but is a PITA.
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