Thanks Robert. Currently the engine has been lifted, and we are looking inside. Here's what we have so far:

The oil pressure is VERY low, 5psi.
The main bearings measure ok
The journal measures ok
The rod bearings are thin, but the weird part is they look burnt, or like they got hot.

Right now we are assuming that the low oil pressure is due to the clearances and we are replacing the bearings while we have the engine up. I'll have them take a peek at the timing chain idler, etc.

Is it worth replacing the $450 oil pump? I had heard the oil pump does not provide pressure, only circulation.

This is almost definitely the last thing we will try before moving on.

If anyone is interested in a clean 96 SL500 with a rebuilt transmission drop me a PM.

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2007 Corvette Convertible Torch Red
1996 MBz SL500
2008 Harley Davidson Night Rod Special