Everyone tells you it's OK. Maybe they're all right, maybe my experience was the exception. But I had something like that happen and it wasn't OK. The way the 318 oils is, the #1 main feeds the #1 rod journal, and the #1 main is the last in line for oil. I had replaced my old engine with a newer one with new bearings and rings. Because the oil pan was different I reused the old pan and pump. After a few thousand miles it started making noise driving around town and the oil light was on anytime the engine was at idle.

Disassembly showed the #1 main and the #1 rod journal with damage, everything else was fine. The main bearing was pretty much gone, but the main journal itself was OK. The rod bearing was down to the steel, the rod was blued and the rod journal was worn deeply, only on the half of the journal corresponding to the #1 rod. About 1/8" was worn off the underside of the throw. I had to replace the crank and one rod, plus all the bearings.

So I say get another 318 shortblock and swap it in. Or rebuild the one you have and put in a new pump and pickup tube. If you let it go long enough it'll get a lot worse.

R.