Newbie here looking into getting into a winter project if not before of rebuilding the Olds 350 in my Sis's '75 Delta Convertible.. Been running the last few years on STP and 50 weight oil to main some oil pressure but now that her POS 99 Blazer (That gets comparable gas milage to the Olds, go figger) is paid for she's been instructed that its time....
My question is, are there any tricks or quirks I should look for when rebuilding this engine or will just a standard rebuild be adequate? Its currently at 157K and running strong (with virtually no oil pressure too!!) but I'm still figuring on it needing bored, heads redone, probably some crank work, a new cam, pretty much the works..

I've always dabbled with Ford Clevelands and Modifieds (Sorry ) so I'm not real versed on issues (if any) with this engine.. Are there any cams you guys can reccomend that won't kill the fuel milage and work okay with the (I think) 2.79 gears? WHat about oiling problems (way too familiar with those) Is a high volume oil pump necessary?

I have also been contemplating a 700R4 swap since the trans leaks anyhow.. I've seen the adapters, been thinking that the lower 1st and second geat may work nice with the steep rearend gears..

Any input would be appreciated, Not looking for a 500 horse monster (well I am, she isn't) I just want a good strong engine that will last..

Thanks!

I recently installed the 700R4 in my 69 cutlass convertible and it is amazing. It required shortening the drive shaft and other minor details, but the results are fantastic. I strongly encourage this decision--good luck.

If you haven't started dismantling this engine, take some statistics on the engine. Make a chart with all the vital readings on the engine.Take cylinder compression readings of each cylinder. Leak down test , if you can. Oil pressure readings with a reliable mechanical gauge, not the electric sensored gauge on the dash. If possible I would check the oil pressure at two separate points. There is usually a second place at the back of the engine where you can tap into the oil galley that feeds off the camshaft. Operating temperature reading at the time you record the oil pressure. If you want you could include the charging rate of the alternator.
Any info you gain will help you analyze the condition of your engine and where you may look for problems.
As far as particular areas of interest on this engine, pay special attention to the rocker trunions/supports. Check for wear under the trunions where the rockers ride.
You didn't mention any knocks, so if you oil pressure remains suspect, Check your main bearing clearances closely.
This engine is pretty much straight forward as far as rebuilding goes. A stock rebuild should do a lot as far as waking this performer up. If you locate a pair of heads from the late 60's, early 70's you'll help your performance even more.