29tons, I got my facts reversed in my earlier post. The drilled head bolt is for an early rocker assembly on a '59 or later engine. Sorry for any confusion.
It sure sounds like you have blockage somewhere. As Tim recommends, the weep holes on the rockers can get clogged. If your shafts are clean all the way to the ends, might be as simple as running a thin piece of wire through the weep holes to clean them out.
Matt