The real tale will be in the filter. Take the filter and cut it apart so that you can see what the element has trapped. If it's copper, you've got problems. Have you pulled the distributor to see if the oil pump shaft is intact?
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Jeff Chambers
1990 Mustang GT 10.032 Seconds / 137.5 MPH
14-time Street Warrior World Record Setter
CRT Performance
2001 Tropic Green Mustang GT - 12.181 / 113.2 MPH
2002 Ford F-250 Crew Cab 7.3l Power Stroke - 17.41@77.2
"There's nothing boring about a small block automatic shifting gears at 9400 rpm!"
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