Red, when the filter bypass valve is open, oil simply bypasses the filter and goes on to the bearings unfiltered.
It is NOT wasted, returned to sump, or sent elsewhere in the space-time continuum.
So oil gallery pressure is NOT affected.
First thing I would do is to connect an accurate mechanical gauge and see if the dash gauge is lying.
Besides the possibility of a bad gauge, that engine used a gerotor oilpump that is concentric with the crank snout and a LONG oil pickup tube back and down to the sump. SOMETHING could be going on allowing air to enter the suction side of the pump. (Noisy lifters can be caused by aerated oil, as well as by low oil pressure.)
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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