That dent may have cracked the pickup tube where It’s threaded in the block. If we’re me, I’d drop the pan first. I think u need more oil capacity for a high volume pump. Stock pumps always worked for me in a street car.
Agreed.
This would MY next step.
And IMO go with a straight 30 or 40 wt oil
Is it dangerously low? No. But i wouldn't beat on it hard with it that low either until you know more about the shortblock