There is a small oil pressure relief hole drilled in the block in the rear. It relives full pressure from the rear seal. Went thru the same problems a couple of years ago on a low deck motor, fought it all year found relief hole and cleaned it out Problem solved
I am not aware of this hole. Does anyone have a picture that shows the location of this hole?
The hole is just over the main bearing, it was clogged with machining debris I must add this was on a Indy Maxx aluminum block, but is was causing the exact problem you have
AA/NSS 65'Coronet "Whompin Wedge" Pop & Son Performance 557" B-1 power John Holt Chassis