What oil are you using? Some of the older stuff likes a thicker oil, especially after it gets some wear on it. I'd use a 30 weight strait oil or thicker in it, make sure it's full and maybe check the spring on the oil pump that bleeds off excess pressure. I had an old Chevy truck with weak main bearings, installed a high volume oil pump and stayed with 20-50 oil, fixed the oil pressure problem. Don't know if you can get a high volume pump for a SM.
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