If the conversion of the oil galleries has been done properly, it will work, but i see some potentially fatal mistakes in the plumbing. Using flex hoses and heater hose clamps to carry full oil pressure is like drawing to an inside straight in a poker game. I'd re-plumb the system with 1/2" outside diameter metal tubing, or possibly #8 single braid hydraulic lines with flare fittings, and DO NOT use hose clamps anywhere. If the oil galleries have been plugged and re-drilled correctly, the oil pressure should be coming from the lower forward port, going through the spin-on filter, and re-entering the engine at the main oil gallery- - - -the rear, upper fitting. That flow is backwards to the way it's done with a bypass filter. It's easy to check- - - -remove the line from the lower port, put a hose into a catch container, and spin the starter with the spark plugs removed. You should get a BIG flow of oil as soon as the oil pump primes itself.
Jerry