First things I would look at....
The oil pump for possible air leaks on the sucking system......or attachment of pump to block....
Possible too much clearance on bearings....... the hard bearing to check for clearance will be the camshaft.
You should be able to check oil pressure and all possible leaks by running the oil pump with a hi torque 3/8 or 1/2 inch drill with out running the engine..... that way you can check for large leak on crank. cam. valve train..... you may need to set up a larger oil container with a rubber tube from the pump to a 5 gallon can..... it will be messy....... cranking the engine by hand will also be feasible....... using the starter may prove to be dangerous as it will spin fast if the plugs are removed....... you engine stand will earn it money....
I got 42 pounds of oil pressure on my 261 using a hi torque screw gun......
Good luck....... keep us posted..... and wash you hands when you are finished.
Bob
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Bob Carriere....B.T.B
C15a Cab 11
Hammond, Ontario
Canada
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