I figured I should go ahead and inform everyone on the progress of my dilemma. I fixed it, no problem with oil pressure at all now, Idles hot at 40 psi go up to 70psi at upper RPMs and stays there. The problem....
I really don't know what fixed it. I did several things to fix the problem so I am unsure of which one fixed it.

I did the following;
1) Complete rebuild of motor honed and reringed with speed pro plasma moly rings, new bearings and oil pump.
2) Added a guard between the rear main and the oil pump to prevent the oil from climbing up the back of the motor under acceleration.
3) Reworked the hack-job that Canton did on my oil pan baffling to make it function as it should (hold oil around the sump)
4) Raised the sump from .220 from the bottom of the pan to .350.


I am just so happy it holds pressure now. I am also glad I did the rebuild now instead of waiting, because the front bearings were SHOT due to lack of oil. (I had suspected that they might be)I was very fortunate that the crank was still in excellent shape and did not have to be removed or reground.

Botch

 

I have their HV pump with stock pan, and no problems here. Sucking the pan dry is total crap in my opinion, I over fill oil by 1qt for the blower lines ect. Evry motor we did at our car lot was replaced with a HV pump. Sounds like the rings to me.