Let's start at the beginning and follow the directions in the write up we posted!
And do both rocker assemblies not lube or just one side? #2 cam bearing feeds the driver side, #4 cam bearing feeds the passenger side. If neither side oils, then the cam bearings are most likely not installed correctly...a very common occurrence when done by machine shops that are not familiar with these engines and their nuances.
Assembly lube can't "harden".
Trying to find the sweet spot in the cam rotation where the rocker shaft can feed is extremely tedious. You must remove the spark plugs to allow easy rotation of the crank with a wrench in tiny increments.
Your "engine builder" sounds like someone I'd run away from in a hurry or has no prior experience in dealing with these engines and verifying proper engine lubrication. 5 minutes with no lube to the cam bearings/marginal oil to the lifters, and no oil to a rocker assembly is the same as an eternity on these engines, the cam bearing(s) will be wiped out immediately.
One more time, the lubrication scenario on these engines is totally unlike any comparable engine, you cannot compare the lube path/performance with any other "conventional" piece of detroit iron!
If you cannot get a heavy volume of oil discharge at the feed hole in each head while slowly rotating the crank and finding the sweet spot (it will not feed both sides simultaneously), then there is a definite oil delivery issue. Such as...a cam bearing not aligned properly with the oil holes in the block, or installed too "shallow", or too "deep" into the bearing saddle. Or...the actual oil feed hole in the cam journal is partially/fully obstructed. Or...there is an obstruction of some sort within the lubrication path in the block. This path is very simple and can be easily verified at the time the engine is assembled...in fact it must be verified (as should the entire lube path) during and after engine assembly and before firing off the motor! And that includes the main oil galleries and lifter feeds at each point.
These motors do not "oil" at the pushrod tips in any fashion, the pushrods tips are oiled by throwoff of oil from properly oiling engine.
The lifter gallery on each side will flood heavily at idle if the lube system is working. Ya can easily watch this through the pushrod holes while the engine is running if you have installed a cutaway valve cover. If it don't heavily flood, then the lifter galleries are not receiving full oil supply from the rear of the cam through the feed hole.
Ya simply must carefully rotate the crank and find the "spot" of cam alignment. And that "spot" on each journal is not equidistant, the oil hole is offset across the bearing journal of the cam. Oil delivery through the cam hole is a "timed" occurrence in a pulsating fashion...though at above idle rpm it appears to the eye (and the pressure gauge) as a solid/heavy pressurized stream.
Because the oil pressure sender port is right off the outlet side of the oil pump, the pressure at that point really means nothing as far as diagnosis for this situation. All the potential trouble spots are downstream of that location. As long as the pump will make sufficient pressure/flow to fill and maintain the lifter galleries (which also means the oil level is adequate!), and supply a feed to the cam spit holes, oil will emerge from the feed holes (one on each side) on the machined rocker stand boss on the head.
As for the reputation of the engine builder back when...that means nothing at this point! Review this thread for a similar scenario:
http://www.forums.IHPartsAmerica.com/gas-engine-tech/1016-waynes-non-oiler-392-a.html
That motor was also "built" by a reputable machine shop...the same one I have do work for me! But they also scruud up wayne's first rebuild, blamed the failure on the carb, then built him a second motor that also did not oil! And the first motor which they told wayne had "holed" a piston most likely has nothing wrong with it other than a botched assembly job!
