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The 350 was rebuilt when we bought it (supposedly, but that is the trouble when you don't do it yourself) When we were taking it out of the old car was in a '68 Firebird and had 0 miles yes we could have gotted duped. When we were ripping it out the owner liffted the engine part way witha floor jack by the oil pan so we put a new milodon and new high volume oil pump on it. Problems: When we hit about 190 degrees at idle, the car's oil pressure drops dramatically, to about 25lbs you can hear the lifters clacking so we shut it off. THis problem only happens when it is warm. It has a rather large cam for the street, specs unknown but it is a rumpety rump
As ai said before it has a brand new oil pan and brand new high volume oil pump and pick up.

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1968 Camaro, 350/350, its my beater car for racing and fun, I am 16= no money for resto :)
 

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I can give you my 2 cents but don't know if it will help.I believe G.M. says you should have at least 10 PSI of oil pressure for every 1000 RPM.So it is within specs,but I do agree this is lower than normal.Since you don"t know the history of the engine it could be set up with solid lifters,this would be more noisy then hydraulics.I also assume you did'nt put some ultra light weight oil in after you installed the pan.

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67 RS RAGTOP # matching, 4X4 CHEVY TRUCK
 

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Ran into the same problem a few years back, The machine shop pulled the plugs from the oil galleries, front of the engine behind the Cam gear, There are 3 5/16 frost plugs or tapped holes. The machine shop did not install and in my rush to put the engine in I did notreplace with new plugs Had reasonable oil pressure when it was cold, however it dropped fast.
Chewed the crank, hope you find your problem befor that happens
 
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