One other easy check - oil filter. Make sure it's the exact right one for the car. There are some similar ones out there that fit, but don't work right, as I recall from my long-departed M102.
Beyond that, worn bearings can cause low oil pressure, but you would probably hear knocks and such from them as well. I guess your shorn off cam lobes could have been due to oil starvation, which could point to a bad pump or clog somewhere.

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