Well, I just broke my 360 block. Terminal?

I think that you would get a leak past that.
Every leak counts in a situation where a motor has low oil pressure and remember this is the very first leak in the system. Its before the oil filter which is a restriction so it would be more inclined to leak past the shell and the mating line of the cap rather than the lifters which are further down the line. I would repair it but hey i like to make sure every is good in an engine. Why risk a 10k motor to repair a $200 leak?