I have a vague recollection that early SBC distributors had a flat machined to allow oil to one bank or the other. If a distributor without the flat was installed or if the distributor was rotated that bank would run dry. Anyway I think the lifters would run dry and not pump up causing a racket.
1955-57 265 engines. The distributor housing had a flat milled on it to align with the passenger's side lifter oil gallery when the distributor was clocked correctly. Get the #1 cylinder plug wire a couple of positions off on the cap and rotate the housing to get the firing order right, and the right bank lifters would collapse. In 1959, the flat was replaced with a groove all the way around the housing- - - -clocking problem solved!
Jerry