Compression Check low oil pressure Now What?

Thanks for all the comments….The results are in. Pulled the pan and the pump screen and pan bottom were full of sludge. I’m wondering if the prior owner of 15 years ever changed the oil. But anyway. I replaced the rear main seal while I was in there…It seems to have the original rope type. I changed the pump to a HV. The tech at Melling says the stock shaft is fine with a stock engine but…never in an hp engine. The valve train noise has almost stopped completely. I need to change the leaking vc gaskets and will look around. The oil psi idiot light is on and off again. I’ll check it with my test gauge. Also the tech at Melling said I was probably wasting my time with the HV pump wont help an engine with low oil pressure. I would have to change to a high psi pump or spring but, that will cause more issues in a worn engine. BTW Melling has couple of good videos on their web site about oil volume and psi. So it seems I’ll have to rebuild or replace the engine.
Craig