I had a '56 hardtop in 1966, it had a 292. The rockers arms were drier than the Gobi Desert, the cam bearings wear out and the upper engine oil pressure goes to zip. The cure for this was to T off behind the oil pressure sending unit (full pressure there) and hook up an overhead oiler kit to the valve covers. This would flood the rockers with oil and restore driveability to the vehicle if it wasn't too far gone. The Y blocks (272, 292, 312)were known for this and it was a common thing. About $5.00 for the kit at the time. If it has a LOT of valve noise I'd consider this. By the way, if anybody runs into this I had a '61 Ford truck with this problem, I had the valve covers off to inspect it, had it running. Evidently a pushrod/lifter combo had worn to the point where it thru a push rod past my head- Real close. Woke me up. Ha Gary