to answer a couple of the questions. Pan is a 7qt Hamburger dual kick out.
Distributor to oil pump drive shaft length is good. the Oil pump drive shaft is an ARP pinned. The oil pressure guage is plumbed with -4 an Braided stainless line from the rear of the block, the idiot light ( comes on when pressure drops below 20 psi ) is plumbed in the front oil galley. Oil looks good. does not have the white Methanol washed out look to it. I know the oil system on these things are a simple hydraulic system. Still scratching my head on this one. i had a problem a few years back colapsing Fram oil filters and loosing pressure. But it flat lined and would not come back. This one is a little different. I guess my next step would be to pull the pump and everything else and start measuring. But first i am going to run the car this saturday. Keep in mind my oil pressure came back and has been fine since last saturday night. I fired it up last night in the garage and it was 65psi at idle. after the woes last saturday night i ran a 20 lap main hitting 7500 rpms without a problem. plenty of oil pressure.