Absolutely no warning noises. I was in the middle of a turn from a side street at only about 25 mph. Fortunately, I grabbed the clutch before I had time to think about what was happening, so I was able to coast to a stop upright. I don't know if the nut had not been torqued down at the factory and slowly turned itself off or if the big end bearing seized. I know he had flooded the engine once with gas by leaving the petcocks open, which is unhealthy and who knows what previous owners had done or not done. He had had some wet sumping problems, too, so there may have been an oil pump problem. When I stored it at my house (he didn't have space), I would ride it periodically, and do maintenance, keep the battery charged, etc (the owner is not much of a mechanic). In exchange for storage and maintenance, I had a Norton to ride. Plus, his Norton had 8 other Brit bikes for company in a nice heated garage.
My own 850 motor has never been apart, so if I can get my friend's bike fixed , I'll probably tear my own down for inspection.