Wags,
The people above have far better knowledge than I do about engine rebuilds. I rebuilt a 261 in 1972 and am still running it. I did not change out the original "higer-lift" camshaft.
I think that there is an oil pressure release mechanism (in or near the oil pump) that cuts in at 45 psi - I'll check a Shop Manual tonight.
What type of oil did you use during the initial run-in?
Good luck, and please keep us informed of what you find.
Tim
