The Stovebolt Site Forums The Parking Lot '60-'66 Trucks oil pressure

I would do two things:

1) Make sure your gauge is accurate, then

2) Call the mechanic.

Its not crazy to see a SBC running around 10 psi at 700 RPM, but on a fresh motor with tight clearances it sounds a little low to me. Hopefully you are not running a super low viscosity oil.