I would simply keep the '7427 you already have.
Have you tried a 3.9K ohm Knock sensor with your current setup ?
I would purchase a new 3.9K ohm sensor , set the flag for KS error and go from there , my guess is unless the knock filter in the memcal was tampered with it will solve your problems.
IIRC , the original 4.3 used dual Knock sensors , two sensors totalling to the 3.9K ohms required by the P4 PCM. I believe the single 3.9K ohm sensors listed above will replace the dual sensors . Don't quote me on that , it has been a while since I messed with a 4.3 setup.
TOM
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