Brucie,
Yes, you will need to take out at least that one valve to see if now has its own problems (I doubt it is the original problem, based on the position of the piston). I am sorry to say it looks like a serious bearing or rod problem, or both. PLEASE next pull those barrels so that we can stop biting our nails over what's really going on and so that you can start the process of getting back up on it and enjoying the wind.
Richard L.
PS - I saw that Muskrat had posted similar concern just before me.