What's this video you speak of?
Harry's got it, mostly. Restricting the oil, rerouting the oil, IMO, is not such a good thing. You can never get too much oil to any part of any engine, IMO. Yes, drainback is the main issue. Hand grinding all casting flash, and even smoothing the lifter valley and tops of the cylinder heads is never a bad idea. A windage tray, crank scraper, and large capacity oil pan with trap doors is a must. Do that, you should have a good 6000 rpm Olds engine that will hold it's own with the chebbies and ferds.
Simple Physics over re-engineering what millions was spent to make it the reliable torque monster it is. Control where the oil goes and limit it's chance to "froth", you're GTG!
Just my humble opinion.
Ray