Awesome topic... Another year, another reply! LOL

cut the filter open see what it looks like

We'll see the answer in 2017 if history is any guide.

For the amount of time this post has taken, I would have torn it down and threw rings, bearings and gaskets in it and been back on the road if there is not too much of a ridge. Tim

I dont get much free time to work on this but i hope i am about done now. I allready junked the filter. There was no sludge anywhere in the motor that i could find. But i did find a busted valve stem seal so i replaced all of them, bolted in a new oil pump and plan on putting it in my 68 D100 this weekend.
It will be nice to have the extra power when pulling a trailer. The old 318 works pretty hard pulling it up hills.

make sure the oil pick up is more then hand tight. i would think it could suck air if not.

I installed a new oil pump and tightened the pickup tube with a wrench this time.
I was replacing the valve stem seals and noticed i had 2 different kinds. One looked like the original ones and the others were smaller . One is the umbrella style and one is the positive style. I got 8 of each in my kit. Any idea why?

Umbrella seals go on the exhaust valves

Ok, thanks. I will be bolting it in my truck tomorrow.

I got to go for a test drive and it seems to be ok. I only have an idiot light for oil pressure but it goes off as soon as it starts. I still am going to put in an aftermarket oil gauge.
Only issue i have is that i think i need a smaller carburetor. I used a 750 that i had but probably on a stock motor a 650 would be better.

Hopefully all is well now. Good luck. BTW, Is the 750 a holley with vacuum secondaries? You should be fine with that with a little tuning.

Yes it is a 750 holley vaccum secondaries. It is just the way it came out of the box. It hesitates a little when i floor it but i did not try adjusting it or rejetting it yet.
Its surprising how well a stock 1971 360 runs with a 4 barrel. The motor has never been apart. Only thing i did was change oil pump and valve stem seals. Its way better than the 318 it replaced.

I put an oil pressure gauge in and it has 45 lbs at idle and as soon as I touch the gas it goes to 60. so it looks like the problem is gone now. only took me 6 years to figure it out lol

I ended up putting a 600 on it and it runs great. Got 87,000 miles on it now. It pulls my box trailer much better than the 318 did. I put an overdrive A833 behind it and it is pretty fun to drive anywhere. It is starting to leak oil pretty bad from the rear of the motor now. Hopefully it's an easy fix.