Oil Pressure

A bypass valve stuck open would not cause the issue. The bypass would only allow oil to flow around the filter.
My guess is the pressure regulator valve not seating........or you have a big internal hemorrhage.......like a missing or blown out front oil galley plug (did you tap them for the shallow NPT plugs?).

Earl is right. 25 psi is NOT nearly enough oil pressure, and if the pump is setup properly it should follow the tach instantly.

Post your findings please.
 
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