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Look near figure 27 here - https://jubileejeeps.org/327/new_rambler_v8.htm - this describes the oil path. Looking at the engine while reading this text might be more explanatory than the text on its own. It appears that oil runs down the rocker arms to the valve tips.
I recall this rocker shaft design tends to clog on the early 232s. The non-detergent oils of the era must have contributed to this problem. The hollow rocker shafts with drilled bolts are typical of the engine design from the era, from what I've seen.
Tim Reese
Maine beekeeper's truck: '77 J10 LWB, 258/T15/D20/3.54 bone stock, low options (delete radio), PS/PDB, hubcaps.
Browless and proud: '82 J20 360/T18/NP208/3.73, Destination A/Ts, 7600 GVWR
Copper Polly: '75 CJ-6, 304/T15, PS, BFG KM2s, soft top
GTI without the badges: '95 VW Golf Sport 2000cc 2D
Dual Everything: '15 Chryco Jeep Cherokee KL Trailhawk, ECO Green
Blockchain the vote.