[streetdreams]

I am of the same opinion and have had the same teardown results as Lowrider. One thing being overlooked is oil throw off from the crank at the rod pins and counterweights. At any rpm, this is substantial, and more than enough to lube the distributor gear and timing set. In fact, probably too much, hence the constant issue of overloaded, leaking rear main seals. I have also read forum reports of observations on running engines of the lifter galley, investigating the need or not for lifter valley drain holes for additional cam/lifter lubrication. Based on the observations, none were needed, as there was an abundance oil oil throw off from the crank. This throw-off oil will serve to lube the distributor gears and timing set as well.
Lastly, in over 35 years of engine design, development and dynamometer testing, I never saw a situation where full pressure lubrication to moving parts was not an advantage, in lubrication as well as heat disapation, especially in a design like the Y-block rocker assembly. Time has proven it is doubtful those rockers saw enough lube from strickly oil " dripping out" the bottom of the shaft. I think Ford realized this and redesigned the FE rocker assemblies for full pressure lubrication, as well as a less tortured path for the oil to get there.
As stated earlier, one function of this forum is to present ideas, opinions and experiences. We are all free then to evaluate, investigate, modify and or use as we see fit. The above is how I see it.
Any Y-block I build or advise on follows the above ideas and modifications on oiling.