there's nothing wrong with the oiling system (design) in a 302. The last thing you want to do is go to a high volume or pressure oil pump. Use the stock oil pump, or a stock (mellings) pump. The high volume pump creates alot of pressure on the oil pump shaft, and robs a little hp too. I pretzled 3 drive shafts, stock, motor sports and milidon. And wiped down to the brass in my mains. 2 very reputable builders told me the oil pump is at fault. A builder from John Devoraks shop and Dave B. (super dave) builds all of Lugos engines.
I got a blueprinted pump from lugo's and have twisted it to 7200 rpm and its been going strong.
Ohh, and Im with pkrwud on the ARP thing. There's none better. ever seen a 390 FE twist 6800 with stock crank and lemans rods. and do it for 30,000 miles. I built one and used all arp.from valve cover bolts to main studs. I sold it at 30,000 and bought my mustang.