I got my 408 Kit from Clegg Engines, they gave me a pretty solid deal on a SCAT forged rotating kit (Just ask for the Flyin' Ryan discount). Included King XPN bearings, ICON 4032 forged 23cc dished pistons p/n IC9977, Engine Pro Ductile Plasma Moly Ring set, and 4340 I-beam rods & crank. I had it all internally balanced, lucky for me no mallory metal was required!
Thank you so much Pat!!! Holy lifesaver man. I was about to tear things apart, at the very least drop the pan and inspect the oil pump. Lloyd reached out to me as well, and I can't thank the both of you guys enough for saving me some trouble.
Good news is I managed to hook up a manual test gauge and sure enough the pressure at idle on a cold engine is 25-30psi. But once it gets to operating temp it's in the 8-10psi range. Seems that is just on the threshold for the sender and instrument cluster to issue the no pressure light. Good to know at least I was still getting pressure.
So I guess next step is to drain the fluids and pull the front cover/timing chain and see if those plugs are there. I have a feeling they are not, I looked back at some photos and it appears those front plugs are missing.