If I took my engine apart to tighten the clearances I would definitely not go any tighter than what you are running. And, if I did all that work and didn't have any more oil pressure than you are reporting, I would be really pissed off! It just seems like we aren't really putting our finger on the critical dimension.
My Mach 1 has a 428 CJ with the standard volume oil pump. I haven't had that engine apart so don't know the internal details, but it carries 40 PSI minimum all the time, so I know it can be done.
Jim |