I found some silver snot in my first oil change and it wasn't iron/steel material. This was on a fresh 350 with 2-3 hours on the first oil change.
Ken

what do you mean by fresh, new, rebuilt ?????

You should not see anything noticeable

remanufactured GM marine long block. Would the silver snot be consistent with bearing material?

could be rod and main bearings are made from several materials including zinc, brass, bronze, ect

u may have wiped a cam lobe, does it run smoothly? do you hear any knocking?

When you say re manufactured GM engine, are you saying the engine was rebuilt by GM? Or was this a straight out new marine engine. When I say straight out new I mean the block has never been rebuilt.

some of the "cam lube" has moly in it and can make the oil look like metal flake

Re: What are the symptoms of a spun bearing? A drop in oil pressure, especially when thoroughly warmed up and at idle speeds after a hard run. --- Jer

if you spun a bearing youd know it trust me KNOCK KNOCK KNOCK KNOCK

AND YES DROP IN OIL PRESS

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"if you spun a bearing youd know it trust me KNOCK KNOCK KNOCK KNOCK" as Goodt states.
Yes, IF it is a rod bearing. But if it is a main bearing, you can still have "the silver/bronze death" and not hear a thing. --- Jer