It's ALIVE!!!
I am very optimistic.
Pulled valve covers, nothing to see or report there.
Pulled the dizzy, I did not find the hollard out hex that was reported.
The oil pump drive shaft (they call it the intermediate shaft) was laying up to one side.
Pryed it away, put a wrench on it and the pump turned???
Drained the oil, magnetic drain plug had no metal at all on it.
Pulled the oil pan (with some effort, someone had siliconed the crap out of it so it was on there, no gasket).
It was immediately obvious the oil pump was loose. Pulled it off and somebody had used that same black silicone on both ends instead of gaskets.
I had bought a pump, gaskets, and pump drive shaft so I went ahead and put the new pump in along with the new shaft.
Everything was so clean I decided not to pull a bearing cap.
Cleaned all the silicone up and put it back together and filled it with oil.
Primed it with a drill which registered 40# on the dash gauge.
Fired it up, tweaked the carb a little and it runs great.
Pressure gauge sticks a nice 40# as opposed to the 10 it read before it went to zero.
Best guess, there was a minimum amount of oil going to the engine but a large amount bypassing the loose oil pump. All the silicone was not even squished out as if it was not tightened.
Internal inspection seems to verify a recent build. Has double roller chain.
Hopefully, the person who built the engine was not the one that screwed that pump up.
I'm guessing the shop that fixed the oil pan leak took it off to remove the pan and forgot to tighten up the bolts.
I B tickled.