Oil pressure pegged
The oil pressure bypass valve also opens when the engine oil is cold so that the oil filter will not expand. Racers have been plugging off this bypass valve opening for years but are cautious about revving the engine when cold to prevent oil filter damage. When the engine is totally warmed up is the oil pressure still pegged? If so I'd check the oil pump pressure spring, cup and relief valve in the oil pump. If pressure goes up there is a restriction somewhere. Doesn't cost anything to check it out. Just my 2 cents worth. Don.
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