Definitely not a header leak. The sound is quite audible through my stethescope when probing along the tops of the rocker covers.
I notice it through the fender vents when it is idling, and it can be somewhat heard while driving at low speed.
The sound maybe like Patricks. Depends where the microphone was. If I stand half way between the engine and the exhaust it sounds about the same. Keep in mind my car is not a solid lifter.
Do FEs have noisier valve train than other V8s? If yes then it is likely normal.
I think I have the drain back trays. Are they visible in the pictures?
Brent - I was thinking about driving down to see you. If I can't come up with something it may be time for a nice late summer drive to Louisville.
Guys - It is apparent there are two schools of thought on FE
oil pressure. I am discounting that as a problem at this point.
I am a very experienced mechanic - just not with Fords. ASE master tech in the mid 90s while working as a GMC Truck engineer in Pontiac MI.
John