The stock filter on a 248 is a bypass filter. You can convert your engine to a "full flow" oil filter. YOU WILL NEED TO DRILL AND TAP YOUR ENGINE BLOCK! There has been a lot of discussion on this topic at
www.oldgmctrucks.com. The inliners site also has the procedure outlined.
The basic stock oil system takes oil fro the pump and sends it into an oil galley that is drilled the length of the engine block. The oil is sent directly to the main bearings and out of the engine at that funny T fitting. From there oil is pumped to the rocker assembly and to the bypass filter. The oil is filtered and then dropped back with the dirty oil in the oil pan.
The upgrade is to reroute the flow of oil from the pump to a filter and then back to the main galley where "clean" oil will be oiling your main bearings. According to California Bill Fisher... crfankshaft wear will be reduced by 50%, wrist pin wear by 66%, cylinder wall wear by 19% and ring wear by 52%.
I hope this helps.