Isnt there always quite a bit of oil up there though? Especially in a olds
Can't say I know anything specific to Oldsmobile, I can only share what I have specifically been exposed to.
The other thing I neglected to mention is that I hate oil leaks. Having the oil level above the gasket sealing surface is an invitation for leaks.
Lastly, I try to consider airflow through the crank case. Pistons move at different rates as they approach and depart TDC compared to that of BDC. That creates a series of pressure spikes as the crankshaft rotates. That combined with blowby, the crank case has the tendency to have a lot of pressure that needs to be evacuated, which is typically vented through the valve covers. Filling the valve covers with oil will provide additional restriction to crank case ventilation. IMHO, I just don't feel that is the best way to go.
In a wet-sump, we put fittings, in both front and rear of the heads, located as low as possible. The fittings in the pan are welded in adjacent to the main caps on the driver side of the block. This locates the discharge on the side of the crankshaft where its rotation naturally helps to draw the oil out of lines. The opposite side and the crankshaft rotation will shoot oil back up the return. The vertical location is such that the return lines can not be covered by oil sloshing in the pan, even in a hard turn.
