Hey bmince, if you look at the topic below "flathead stuff" engines, there is some talk in there about performance mods. Also, if you look up at the right hand site of the screen, you will see that there is a drop-down menu that will let you select how far you want to go back to see previous postings (i.e., the last day, last two days, five days, month, hear, etc.). Choose to see postings from the last year, and you will find one topic that has 52 responses - "Let's talk flathead modifications". There are some good (very technical) messages in there regarding performance and I believe there are some regarding oil system mods, as well.
One suggestion is to balance your crankshaft, flywheel, pressure plate, rods and pistons. This will help the bottom end to last longer. As for oil system mods, you probably shouldn't need to make any such mods unless you are planning to run your engine above 3000 rpm for extended periods. A couple of things can be done fairly easily for some improvement, though. One is to buy a high-volume oil pump. I bought mine through Vintage Power Wagons for my 230 cid flathead. The other thing is to buy a stiffer pressure relief spring (green one). I also bought this from Vintage Power Wagons.
As for performance, there are a number of suuppliers in the "Links" section of the
www.P15-D24.com website. These people supply cams, dual carb intake manifolds, and hopefully Vintage Hot Rod Parts will soon be supplying headers. Also, Crane Cams and Pertronix both supply electronic ignition kits that can be adapted to fit the flathead 6 distributor. You can also mill the head some for more compression.
Hope this helps.
Matt