If you mean the one rigtht in FRONT of the distributor shaft (that is in the back end of the driver's side lifter gallery), the answer is no; there have been plenty of such issues that show up here time to time, and the common symptom is markedly low oil pressure, nearing 0 at idle when hot in some reports. That plug is at the far end of the whole oiling system and puts an 'end wall' in the oiling system against which pressure builds.
