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Damn, typed a huge response and lost it - hang Windows!! Loss of power will not be connected with oil pressure (or lack of it) unless the bearings are so hot that they will melt down anyway - and since you've been running with low pressure for a while, and your engine still runs, don't worry. Replacing the rotors in the oil pump MAY help, but it isn't guaranteed. You may also need to do a bit of gentle machining to the pump to reduce the head clearance (the gap that exists between the rotors and the pocket they sit in when it's all bolted together) to get best efficiency. New rotors will do fine for a start. Ignore your big end and main bearings unless they are noisy - I did mine along with the oil pump, and it was a waste of $$ - but the job is done now. Like I said earlier, slacken (not remove!!!) the union on the gauge oil pressure feed on the block, and see what sort of a spray you get at half throttle - good spray, no worries, feeble dribble, fix it now. Incidentally, is your oil pressure pipe OK - and not kinked or flattened badly? Loss of power is more likely connected with points, timing (is the advance/retard in your distributor working?) plugs or carburation. Just a few thoughts.
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