When I had a 235 in my car I ran two seperate remote mount filters. One was a full flow spin-on & the other was a by-pass cannister type. I mounted both at just below hood-line level for easy access & better oil cooling. Ran that motor approx. 120 to 140 K miles over about a 12 yr. time. Still no oil useage or weird noises. Sold it to another forum member here & built a 292 for more power. Just run a full-flow on it, put about 30 to 40 K mi.on it. Also mounted high. No problem.
I'm curious why you drilled the block. I just run bulkhead fittings thru the oil pan side. Sure drills easier. Also, re: the full-flow drainback concern-If you mount the spin-on filter in the 'normal' position so the open end of it is facing 'up' how can it drain back? Am I missing something here? Doug