You Guys Rock! Thanks for the input. I'll look into the size on the holes in the rocker arms. I hadn't noticed that. The line to the pressure gauge comes off a tee right out of the block. I'll post a pic. So far, moving the engine with the starter I haven't see the oil pressure gauge move.

Thanks for all the input Dragsix. It looks like the engine is a hodgepodge thrown together from what was laying around? 61,62,64? A couple of my buddies were thinking the block was a 54 or 55. The cast date ending in 9 by the starter had me thinking 59' but the 3733950 is supposedly a 54'-55' 261?

I'll take a look at the rocker arms and see if the internal grooves are centered or offset. Given all the variables I was worried it was a mix of 235 and 261 and that the oil wasn't moving properly.