OK, so now I'm corn-fused, my '60 261 has the pin flush to the outside, and 30psi at 650rpm fully warmed up. Not sure if the passage is blocked or not anymore. Seams to me that if the by-pass operates like the 235 does, then I wouldn't have any pressure with the 1/2" lines, as I tried this on a 235 back when I didn't know any better and only had 5psi when warm. With that assumption in mind, its either got an extra long pin like Tonys has, or the passage should be open for full flow??? Tony, what year is the block you have with the longer pin? Also, does anybody have a 58-62 repair manual handy that might shed some light on this area? I'm thinking maybe they made a slight change to this setup on the latter ones??