I just purchased a running 318 from a guy who has a 68 plymouth satellite.
It sounds great, and i got the whole engine with accessories and tranny for $300. The only thing bad with it is that it the valve train makes too much noise. I believe it is valve chatter and i want to know how i could fix. one of the valves also has some play with it, the engine also only has about 10 lbs of oil pressure at idle what could be the cause of that?

 

low oil pressure is usually bad bearing, or oil pump wore out clearances out of spec or wore spring in pump. you can raise the pressure my stacking the spring. but you mite as well go thru the engine. chattering could be wore cam rocker arms/shaft. lifters not pumping up, many things chances are you probly need to over haul it.