wemooz Bill we don't have alot of info on your motor but here's the things
If that little guy who sits on your shoulder is telling you something, LISTEN. 98% of the time he is right. Drain it and change it. New
oil and filter with an
oil additive too. Pour this in when the motor
oil is warm.
Look we have been fighting on oil pressure for years and this will not stop.
FE motors have heavy bottom ends, the 10 psi for 1,000 rpms is a SMALL BLOCK CHEVY motor. I wish the guys would cut the BULL on this. The oil has changed in the last 20 years to less protection, cleaning, and
zinc. Why do you think that Joe Gibbs sells special oils if off the self will do the same??WE are talking FE,FE. Here's the thing, your gauge is at the oil pump, what you are reading is at the front of the motor, not the back. You can loose anywhere from 10psi to 40 psi pressure from the front to the back of the block. Some motors I have added oil pipes to balance out and supply more oil to the back of the motor. This applies to solid and hydro lifter motors. As far as SO blocks, this is a different designed block but still needs high oil pressure with a loose bottom end. The old masters will tell you this time and time again. Most motors died from oil starvation and not weak parts.
I have a similar motor to Brent B. with a 482 stroker. I have tighter bottom end with .0018"-.0020" mains and same on rods of under .002". I run a 100# HVHP oil pump. 15-40 Rotella diesel oil and suppliments. My idle is 35-38 hot idle at 750 rpms and 70-85 psi at race track speed. I don't let the motor idle if possible. The ONLY time is on startup and warming the oil in the motor. My rpms are at 1,000-1,100 rpms. The FI system controls this. Put limiters in the heads for .080" oriface. This will give you good oil coverage on the rockers and moving parts and should almost flood the valve springs and coole them. They make alot of heat. Returns are important too. Getting off soapbox, change oil and filter and take car out for 10-15 mile road test. Tell us what the numbers are when you get back. If back to normal, car is good. If not you might want to check over oil pump, spring and plunger in housing. It might not be sealing 100% and bleeding oil pressure.
Last note, did you over rev it or bang the rev limiter, or miss a gear shifting?? All can cause possible damage to motor. Might have stretched a rod bolt or hurt a bearing if the oil pressure doesn't return to before readings. Sorry to be the bad guy with info but this may also save you a $15-30K motor with a minor repair of the motor. Rick L.