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Your post really caught my attention. The oil light only comes on when the pressure is low. It is not a low oil level light. If I remember right the number is 2.1 psi. I think that racing an engine with 2.1 psi is a very quick way to wear out the engine. As Beav says all that entrained air is not good.
If I was to beat the snot out of my SVX again I owuld use Lucas oil and fuel additives. Both are made for racing to improve power, reliabilty and engine life.
The hotter the oil gets the less it lubricates as the viscosity drops. More oil in the pan gives it some time to cool off as the air passes the pan while driving. More oil in the pan has a longer retention time and the oil get cooler. The cooler oil goes to the bottom of the pan where the pump suction is. So the coooler oil goes to the pump. Less air also gets to the pump suction because the pan is deep. I think the excellent lubrication system is one reason why the SVX engine lasts a long time.
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May your transmission live forever.
SuperbVehicleXtraordinary
Proud sponsor of a 1992 SVX. 
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