Sounds like something is not right..  clanking sound is not good.  did you check your plugs?  You need to find out where that noise was coming from.

#5 plug is smashed up and full of coolant, I need a fiber optic camera to see what happened in there, but I think I cracked the head and busted the exhaust valve

Post pics of the plug.... most likely piston damage.

Doesnt sound good man. Best of luck to you.

I am assuming you mean the bottom of the plug is smashed up. which as J said, the piston has probably hit it. The question is,what caused it to hit it. What pistons are in there ?

Next weekend im pulling the head, I talked to a few guys and we think the head cracked and the. Alive dropped into the cylinder, that's what caused damage to my spark plug, so after inspecting the damage I hope I got off lucky and can replace the heads, doubtful, but hping 

If so, atleast you can order just one head. Good luck with her man. Let us know what happened.

Finally had a chance to start work on it, it's worse than I had suspected, the head is fine, but a believe my #5 cylinder detonated and shattered part of the piston which got caugh and tore through the cylinder wall and went into the water jacket, looks like im starting a new build, im thinking modular 5.8 this time

Damn. Thats sucks man.

I wasnt happy to find that. I have a new engine in my garage ready to go, 427 stroker...

sweet !!!