Oil line plug/ low oil pressure on cold starts

I have an issue with low oil pressure during cold starts like you can see and hear in the video. It's ok when warm. It's a stock 318 within unknown history from craigslist. The engine is pretty clean inside, but I have no idea if it has been rebuilt. New oil pump, pickup, lifters, pushrods and I've tried different oils and filters. Someone suggested to check for oil galley plugs - specifically the one by the distributor and the one down the oil pressure sender hole. The one by the distributor is there and I checked the depth of the other and it's off by an 1/8" of an inch. It's supposed to be between 7-1/2" and 7-11/16" and it's 7-13/16". Has anyone had this issue? Could 1/8" make that much difference?



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