You could tell allot more about your mains and big end bearings from just looking at your oil pressure gauge rather than dropping the sump...unless of course you disassembled them.
Your symptoms are consistent with a leak in the vacuum advance tube. Check that first...you may be lucky!
Good luck with the car.
On their death bed, nobody ever said, "Gee I wish I'd spent more time at work!"
'68 Sprite 1275
'76 Midget 1500