moparguy,

Your terminology is correct regarding the squirters being pressurized oil (the rod-dippers "accept/receive" the pressurized open-stream oil), but that is the "open pressure" part of the low-pressure lubrication in the 216 (and the same system in the early 235) engine lubrication system. Many people mistakenly call this a splash oil system - it is not.

The "source of the pressurized" oil is the oil pump.

If you have not already done so, read the Engine section of the Shop Manual. Here are some key pages:
http://chevy.oldcarmanualproject.com/shop/1948_51truck/51ctsm0605.htm
http://chevy.oldcarmanualproject.com/shop/1948_51truck/51ctsm0614.htm
http://chevy.oldcarmanualproject.com/shop/1948_51truck/51ctsm0615.htm




Tim
1954Advance-Design.com
1954 3106 Carryall Suburban
1954 3104 5-window pickup w/Hydra-Matic
The 216 and early 235 engines are not "splash oilers" -- this is a splash oiler.