One thing people worry too much about is oil coming out the weep holes at an idle.
This is especially true on engines with a flat spot running the full length of the shafts, as I suspect yours does.
Engines with shafts with the flat spot(on the bottom side) tend to bleed off a fair amount of oil, even at the connector, like yours.
Try running it at a fast idle and see if oil comes out.
On a 1959-62 engine you should see very little oil come out the vent holes.
