Those millions of chevies also made no power or compression per cylinder to speak of

This is one cheap way to make wrist pin oilers, just notch the rods. I have done this on VW rods with no ill effects, a well known trick and some engines are made this way. Wrist pin lubrication is still only splash oiled, but this adds a more directed, additional splash aimed towards them.
http://www.youtube.com/watch?v=7wuNuuEoN7YEdit: looks like the rod in the picture above already has a squirt hole where the neck begins, 12 o'clock.
Here is another way to make a stationary oiler/squirter jet by robbing oil from the main bearings instead:
http://hotrodenginetech.com/pin-oiler-prep/I believe BMW used poppet valves at th eend of each squirter in some of their engines (I watched a VW builder adapt these jets to an aircooled VW case) which helps maintain good oil pressure at idle, when oil pressure drops down, and the poppets would only open when there was more oil pressure available.
Here's another way to do it with add-on pressurized hard lines aimed directly at the writ pins/piston tops:
http://mngforce.typepad.com/nc450vdev/engine-modification-piston-cooling-oil-jet.html