The way the photo shows it, there will be virtually no flow through those large-diameter lines with the dowel pin in the "out" position. There will be almost equal oil pressure to both sides of the filter. Filter elements will take a LONG time to get dirty, however!
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!