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It's true that modern GM lifter bores are drilled for hydraulic lifters. However, LOTS of engine manufacturers from out era did not pressure lubricate their lifters (followers, tappets, whatever).
Drilling the base of the lifter (actually to the side, not the bottom) into the hollow area would definitely be beneficial. No oil pump pressure, no, but the action of the lifter "bobbing" up and down will pump plenty of oil out a hole. Drill four around each lifter and I only see benefits. Besides, this is becoming a popular conversion for other "non-pressure-oiled" european pushrod crates.
Mike!
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