A while back I bought a 88 camaro with a rebuilt 355(has under 1000 miles) that had been ran hot. The guy I bought it from said he thought it was just the head gaskets or cracked head so I picked it up for $600. Well recently I got a set of SR torquers and put it all back together and fired it up and it had very low oil pressure. I let my dad look at it and he said it's the bearings. My question is, what all am I gonna have to buy to fix this? I'm just trying to get an idea on how much it will cost. Trying to decide if I wanna keep it or sell it. Any help appreciated. If I left out some important info let me know I'm not too familiar with this stuff.

 

How have you determined that it has very low oil pressure?

 

Used 2 different mechanical gauges and lots of noise in the valve train.

 

The only way to know what it's going to cost is to pull the bearing caps and examine/measure the crank and bearings. Very likely the crank will have to be turned, if it isn't already turned down as much as it can be, and the bearings replaced. The main bearing caps may have to be align honed, and the rod big ends may need to be resized.

Or, all of that may be okay and all it needs is an oil pump. The longer it is run, the less likely all it will need is an oil pump.