Brent,
The notches were originally put there by FoMoCo for lubricating the cylinder walls and pistons (squirt splash) with the intent to keep them cooler. It was designed to allow
oil to be squirted through it if the matching bearings are used. Apparently, some bearing manufacturers decided to stop making them with squirt holes thinking it was not needed. Also, if they are used as original, it could lower
oil pressure. Good Luck.