I had a buddy who was so cheap he refused to buy a new oil pump pickup tube/screen.  Well right after he started his freshly built 460 he lost oil pressure.  He had to pull the engine back out of his 71 fastback and inspect it.  Turns out part of the old valve stem seal and worked its way into the oil pump and locked it up.   Under the flat cover over the screen was full of old seals.  I said I told you so!

I've never done anything exotic to the oil system in any engine I've ever built.  Standard volume/pressure pump, which I always check clearances in.  Since I started using Melling pumps every one has checked out perfect.  Basically they are blueprinted from the factory.  The only thing I'll do is drill the cover bolts, pickup bolts, and pump to block bolts for safety wire.  A good bit will even drill through ARP hardware.  Many would consider it overkill, but I view it as cheap insurance.  Any of that stuff comes loose and its bye bye engine. 

I've added stand pipe style vents to some engines to better control oil drainback (keep it off the rotating assembly).  I'll epoxy trash screens in the lifter valley drains, so if something breaks in the top end it keeps the big chunks out of the bottom end.  Other than that its just make sure everything is clean.  I spend a good hour cleaning a block before assembly.  I use hot water to prevent flash rusting, and some dish soap, followed by a thorough flush.  I go through each passage a good 20-30 times with brushes.  Then blow everything dry with filtered compressed air.  A little WD40 on machined surfaces to prevent rust.  The last engine I did I took the time to Glyptal to crankcase, valley, timing cover area, and bellhousing area to seal the casting.  Then I painted the outside and baked the block for two hours at 200 degrees.  Again, overkill?  Probably, but all it takes is one little piece of slag, casting sand, etc. to run through the bearings and you've got problems. 

From my experience and reading SBC, BBC, SBF, and BBF engines have good oiling systems and don't need work.  You get into stuff like Buicks, Pontiacs, etc. the oil system needs help for performance use.