Head gaskets are losing oil outside, and coolant inside. Oil pressure is 5psi at idle with mech. gauge. Goes up a bit under throttle. But if you drive it the light never goes out.
I have about 250 miles on it with the oil light blazing (been living with the head gasket leaks for years).
No noise at all, 15MPG, and as strong as it was brand new (which was 8K to me).
Running Mobil1 15/50 +filter, with one quart of Lucas and one of MMO.
I think that with the oil pressure so low (and this is after changing the sender, cleaning the pan/screen, and replacing the front cover w/brand new) there is something seriously wrong with the block and a head job would be a waste of money.
Yes it's on life support, but I honestly think it will go another two years at least. Regardless every mile on the dead engine is another dollar in my pocket. I'll drop a turner.uk block in there eventually. Time will tell