Mystery solved.
For all you 235 re-builders out there, I thought I would share the solution to the mystery of why my motor had such a reduction in power all of a sudden. Jerry, you had some good possibilities and I passed those along to the shop.
Just got a call from the restoration shop regarding my drastic loss of power. There is a 'special' drilled head bolt that is required in some of the 235 engines that allows oil to travel up to the rocker arm assembly. When my engine was rebuilt, years ago and not started until recently, the machine shop apparently lost that bolt and just 'stuck' one of the same size back in when they reassembled the engine. Yes, my guy today checked all the head bolts to see if it had been installed in the wrong place when reinstalling the head. He said he did not find it and consequently said he had to make this 'special' bolt.
My guy says the engine runs quiet and has way much more power. Can't wait to see how much rubber I can lay down in second gear!
John