oil pressure

i have 360 k/b piston, 11.5 comp, comp cam, high volume oil pump. my problem is when u rev up the motor it smoke real bad. let idle you can smell it but not bad. it was smoking all the time, went back and replace valve stem seals and it quit smoking at idle. i notice that when i break idle my oil pressure is betwwen 60-65 and 25 psi at idle. whats weird i broke the motor in on the ground, no smoke. put the motor in the car took about 2 mouth to get back started. the only thing i changed was i but a 90 deg oil fillter adapter and diffrent carb. can any one help its drivng me nuts to see it smoke. motor has 50 miles on it.