Well i started my 400 chev for the first time today
You must sort out this problem before you attempt to restart, particularly if its a new engine. It is very important to follow correct cam break in procedure as the life of your cam shaft depends upon the first few minutes running. Refer link to Crane Cams site:
http://www.cranecams.../?show=faq&id=1You can check the oil pressure without restarting by using a priming tool or old distributor drive with an electric drill. Not recommended practice to crank on the starter to build initial oil pressure. If the problem persists take it up with your engine builder, otherwise pull out the oil pump and check the relief valve or just get another pump.
Before you go for another resart:
Fit an exhaust system, your neighbours will thank you and its easier to hear any potential problem.
Have a mate handy to check for leaks or other problems when once you start up.
Immediately bring engine revs up to 2000, and vary between 2000-3000rpm for the next 20 minutes. DO NOT IDLE.
You can break in the cam in a couple of 10 minute sessions if necessary.
After the cam break in change the oil and filter and give the engine a check over making sure that bolts remain tight and nothing is leaking, rubbing, lying on the exhaust etc.
Take your time, do it right and good luck with it!