Hey Ron,
coincidentally, and by choice, my ERA Cobra has a 1969 Torino Cobra Jet motor and a 1969 Torino Nascar trans in it too. Tom Lucas at "FE Specialties" set up my short block and my Edelbrock cylinder heads for me. I went to Tom because his primary focus, goal, and passion is to engineer and build FEs. I am very impressed with his abilities in working with and blueprinting the oiling system on an FE. Various mainstream builders say they know what to do there, but really are just guessing and just hogging out all
oil holes with no rhyme or reason. Tom is not guessing. He's had a lot of practice with FEs seeing where they succeed and where they fail when slapped together by a Chevy engine builder. As long as you define the basic parameters of what you expect from Tom, and how you plan to use the car, I'm certain that Tom will be able to tell you what is wrong now, and can help get you back on the road again with confidence. Call him and ask him. Be sure to tell him that I referred you in there along with the others... Oh, BTW: I've ran my FE against some others, and it goes like snot too. I'm very pleased with the power and torque now that I backed down on the cam a little.
If you go to Tom, reply to this thread and tell us what he finds about this problem you are experiencing... it's good to know these things on FEs. Let us know... Good Luck. Duane