I use the term high-pressure and low-pressure.

GM sometimes used the term full-pressure for both systems (or parts therein).
Here is a description of the high-pressure full-pressure system that compares the new system to the previous system.

The 48-51 Shop Manual and the 1954 Shop Manual describe the low-pressure and the high-pressure engine-lubrication systems (respectively).

The major difference is how the the rod bearings are lubricated.

If you are by any chance interested is see what a real splash oil system is, look at the older (much older) Shop Manuals on the Old Online Manual Project.