Ok, so I have finally picked up my Porsche form where it was diagnosed with an internal engine failure. I am holding with high value the comments from everyone on here, many thanks. And thought I'd post a video of the engine running for some more diagnostics or confirmation of the fault. I had no option, but to drive it back from the garage and it still pulls well and has good oil pressure, it feels 100% apart from the noise.
http://www.youtube.com/watch?v=C9tFaC25Mn0By the way it always try's to stall when it's cold, so that is normal, I think it's the temp sensor, which was on my to do list before this happened.