I would just pull the motor and have it freshened up. A HV oil pump may only make things worse. You could, depending on what that engine needed have it redone for a grand if you can do the work yourself, after the machining is done.
i thought about that too. but for a grand i could pick up a 5.9 magnum for 450 cash, eddy intake 300 and carb for 250 and headers for 200. the truck passed emissions, but just barely. in washington state you go every 2yrs and after the vehicle is 25+ yrs old you no longer have to do emissions. i would only drive the truck on the weekends around town as i drive a company vehicle during the week. I would like to make it a really fun dependable little rig. even the tired 318 moves this thing pretty well. If i were going to be rebuilding the 318 i would just do a 360 swap while i was at it.
one more though was the throttle body injection. do you think i could do the magnum swap with the factory intake manifold and put my existing throttle body on it? it all looks pretty basic
