That is the good news. The bad news is that I lost oil pressure with 4 miles on the engine, about 45 minutes of total run time.
On the initial start we hooked up an oil pressure gauge and observed 40 psi while cranking and almost 50 psi on a cold engine @ high idle. After letting it warm up, I disconnected the gauge and put all of the intake/filter together and started cleaning up.
The next day I fired it up and let it come off the high idle and took it for a slow cruise around the neighborhood, stopping every few minutes to look for leaks and listen. Eventually I left the neighborhood and got on some 40 mph streets. After coasting down from 40 mph to a stop sign I heard a small "click" and then some ticking followed by whitish/blue smoke out of the exhaust. I immediately shut it down and got off the road. Everything under hood looked great and all fluids clean and full. I fired it back up and gently headed for home. Nearly home and the oil psi dummy gauge showed below NORMAL in the red. I again shut it down and coasted into a parking lot and popped the hood hoping to see the wire for the switch knocked off, nope, it was still attached. The engine sounded good but I coasted home the rest of the way. Once in the driveway I hooked up my pressure gauge...1 psi at idle. I then removed the gauge and let the hose drain into a cup while cranking the engine. There was very little oil making it out of the top of the turbo.
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While trying to calm the pit in my stomach I re-checked all of the obvious stuff and swapped on a new oil filter but before spinning on the filter I picked at the oil pressure regulating valve in the rear cooler filter head. It appears to be fully closed, no holes visible, which I believe should be allowing full oil pump pressure to be delivered to the engine. The oil filter bypass should not have anything to do with my issue but I depressed the plunger anyway. It operates smoothly.
