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Fordsfairlane,
If you ran the engine low by two quarts then you only had three left in teh pan. If you turn the motor up at higher rpms you will run out of il in the pan and of course something has...

nystreetscened,
I didn't know you had the engine sitting up that long. What might be wrong then is you spun a cam bearing on initial start-up. Might want to empty the oil out of the pan and check...

There isn't any engine that likes running low on oil. The chevy smallblock has a pretty darn good oiling system compared to many of the other engines out there.