Had the boat out on the water this weekend, was the first time since i got it back from the shop (new cam and lifters). Ran good all day saturday, took it out sunday morning by myself to get some numbers with a new prop. Made a run down the lake 66mph at 4800rpm. When i turned north to head back i felt the motor bogg. So i switched it off to investigate. The tube for the speed odometer had blown apart at a coupling and soaked the motor. Water got sucked in the breather. So needless to say i had to get towed in! I put the battery on charge today when i got in from work for a few mins and then tried to start it up. It started fine, but the oil pressure is around 20psi. I checked the oil level and its fine. I have a gen 5 502. What could be causing this? Could metal from the old cam and distributor gear have migrated to the oil filter?

Take it one step at a time. Lets change oil and filter. Cut open the old filter and visually and with a magnet see what you have inside. Next run the engine and check oil pressure again. To double check, use a mechanical gauge. Might try revving to 3000 and see what pressure. You may have contaminated the oil with water, etc. Good luck....

Question is why were the cam and lifters replaced the 1st time? Definetly do as Goldeneyee suggests. Then carry on from there.

sounds to me the water was not the issue...did it wipe the cam ? if so and you just replaced it chances are the metal has killed the bearings, bet you spun #1/2 rod bearings...

That where is was leading too. Hope not, but sounds like it.

I bought the boat from the bank, it was a repo. So I don't know how it was treated. It was eating the distributor gear. The distributor had a bad bushing in it so I replaced the distributor and it ate the gear again so we changed the cam and lifters . The cam had six lobes bad on it. New oil and filter. Also the old cam wasn't scorn sa if the cam bearings were bad. Going to change the oil filter at lunch to see what that does. My motor guy says it could be molly(break in lube) stopping up the filter.

What should the pressure be at 3000rpm?

What should the pressure be at 3000rpm?

Just changed the filter. It was running 20psi at idle and at 3000rpm it was running 40psi. Is this ok?

If it stays that way after its hot, then its fine.