I'm overhauling a 55 235 (car/standard trans)and was contemplating drilling the block to convert it to a 'full oiler" as outlined in various chevy sites. It seems fairly straight forward. Do the benefits of this upgrade merit the effort? Also, with this upgrade can I still run the 'cartridge in the can" oil filter, of will I need to upgrade to a spin-on filter for increased flow? I would appreciate any suggestions/personal experiences learned from performing this upgrade. As always, thanks in advance for sharing your knowledge on these questions.

The "full flow" oil filter is totally unnecessary unlese you live in a very dusy area like the Sharah Desert. With regular oil changes every 1500-2000 miles the engine will last for many, many miles with no oil filter. The original by-pass filter does work and filters out smaller particles than a full flow which uses a less dense filter material so as not to block the oil flow.
MY 2 cents worth.

Chev Gene, Thanks for the quick response. One more question. If I do drill the block to allow more oil to flow through the canister filter, will the canister filter be able to handle the increased oil flow/pressure? This is my winter project. I realize I might be over thinking things. I've overhauled a few engines in the past, but it's been a few years...I'm really enjoying this one. I plan to add a 261 cam and twin carbs. Thanks again.