Would not a displaced valve lifter also result in a dead cylinder also?
Our '72 Newport 400 would light the light from a stop with a quick acceleration from the stop, after it got some miles on it. Never caused any engine noises, though. I would pop it into "N" and rev the motor lightly to get the pump to work and the light to go out.
On my '70 Monaco 383 "N", I could easily turn on the light, too. If the rear tires broke traction on dirt with a sudden 3/4 throttle application, after about two seconds, the light would come on. So I'd quickly put in "N", blip the throttle twice, light goes out, continue on down the road. That motor has the MP windage tray, too.
Both of these motors went well past 100K with the bearings they came with. No issues. B/RB engines oil the lifters first, THEN the mains. Although a restrictor can be put in the oil supply to the lifters to bias the oil delivery more toward the main bearings. Small Block Chevy oils the main first.
Why did Chrysler do that? In the later 1950s, a (possibly) large part of the Chrysler customer demographics might contain many "vintage" people, whose hearing was deteriorating a bit. Low frequency sounds usually are the first to go. So . . . how many times have you heard somebody older than you (back then) ask to have their motor oil checked as they heard a lifter ticking (or so they thought)? AND, Chrysler V-8s all had hydraulic valve lifters, on their standard V-8 engines. Plymouth and Dodge had some variations, I believe.
If that had been a small block Chevy, the thuds might not be heard until they were felt, possibly. Too late by that time.
In the mean time, you might look for a factory oil pan with a baffle over the sump. As in a Fury GT 440 6-bbl oil pan, for example.
Not sure why this issue became an issue with a rebuilt motor?
Is your dipstick and dipstick tube the original pair for the engine?
Take care,
CBODY67
