IO540 - Please don't think I'm prepared to fly like this. The fault occured suddenly, and the aircraft has been grounded since the incident and will be fixed before it is used again! My query to the forum was in hope that much more experienced types could maybe save me some grief re repair costs - in that I could make "suggestions" to the repairer rather than accept replacement of everything in sight (with myself having no real knowledge of what might be needed).
Turns out that forum members have pretty wide opinions of what it might be - I'd been hoping that someone would have had experience of just this problem and could have said "Easy - it's the 652 discumnockerator that's developed Diggins disease" or some such guidance.
Never mind - it's going into the shop. Thanks all for you efforts (you still have a chance if you do recognise it!). Curlytips.