Update: I installed the timing kit, new head gasket, vacuum hoses, etc. Purrs quietly. Now that the truck has been driven oil pressure is 25-35 at idle, 70-75 at high rpm. No oil leaks for first time since perhaps the 90's. Thank you Slacker and Bingle for your help.

 

When I inquired about replacing main and rod bearings here at the time, some had had bad experiences with them going out shortly after. But I am pleased to report that 18 months as a daily driver later, the lower end purrs quietly. The truck has over 400,000 on it and 200,000 on a 19 year old rebuild with full compression. So the 'bearing only' thing did work in this case. And I was able to replace the mains with out removing the timing cover or transmission. Frequent oil changes (1000-4000) miles and a little Lucas seem to help. Thank you every one for the help and insights.

 

Well, 17 months, but still.

 

Thanks for the update!

Too many questions get asked, people answer, then we never hear back from the original poster hearing what happened...which doesn't help much for people who search on a topic and find the thread.