My sympathies on the dripping oil... it never ends.
Read the manual on adjusting rod clearances. Based on what I remember doing and reading, 0.002 is too loose. At 003 they start to knock. I recall something like "a light tap with an 8 oz. hammer should just move the rod sideways," or words to that effect. I believe that's why they specified 20wt oil for summer and 20/20W for winter; and for really cold temperatures adding some kerosene. That was long before multigrade oil. An engine can also lose oil pressure to worn cam bearings.
