Denny, the explaination all the racers used for painting the inside of the block was "It helps the oil drain back into the pan". I never bought into that one, but I did believe there was some advantage to the idea of sealing any casting sand residue to the block instead of letting the oil wash it off and circulate it around. Mostly, it made the inside of the engine look good to the guy who was spending money by the pound to buy all those high-dollar parts, and I couldn't see a downside to doing it if the paint stayed put. Some things a professional race engine builder does are done just because the guy with the deep pockets expects it, whether the builder thinks it's effective or not. Remember the Golden Rule- - - -"The guy with the gold makes the rules!"
Jerry