I have a modified 261 (272 cu. in. now)in my 61 shortbox PU. Originally it was like yours but upon doing some research I learned that it's easy to convert to a full flow oil system.In my case I wanted performance and durability. When you get the engine torn down look on the drivers side of the block down by the botton and you'll see a plug. If I remember right you can see it from the inside of the block by looking down a passage. All I did was knock that plug in about 3/8's of an inch to open up the passage to let the oil flow out instead of in the block.There's actually 2 different passages in there. Now all of the oil comes directly from the oil pump through my oil filters and re-enters the engine for lubrication. This engines sports a performance cam kit,Hedman cast iron headers,Clifford 4 barrel manifold with a 500cfm Carter carb,Wayne aluminum side plate and valve cover,HEI ignition,11 inch clutch assy. The engine has been balanced and blue-printed and has a 235 head which raises the compression a half point to 8.5:1 for todays gas. It has a full-syncro 3 spd. with o'drive tranny with the soleniod hooked to a switch on the shifter giving my 6 forward speeds, meaning I can split every gear. It's not a hotrod but built to go down the road and pull a load.If you have any questions I'd be glad to answer them. Good luck.