Bob, the lifter noise is a sign that there is a problem. 9 times out of 10, with an electrically gauged system its the sending unit or a bad connection in the wiring. As suggested a manual gauge would be the first thing to try.
Also I would recommend oil analysis to everyone, that can be set up through your oil supplier or dealer usually for free. Any abnormal bearing ware could be caught before you chuck a connecting rod through the hull and really get into trouble!
I'm hoping that the horse didn't get out of the barn with you, on this one!
T.
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