If GM wants 1 psi for every 100 rpm, then your engine doesn't make the grade when hot and your wheeling since you only have 2-3 psi at 600 rpm. Seems a bit low and while you may not have metal in the pan, you might in your filter. Wouldn't hurt to cut one open and it costs you nothing.What’s the rule of thumb for a GM small block oil pressure requirements, was it 1psi for every 100rpm? If the oil pressure doesn’t meet that minimum level anymore, I could see how bumping it up might help, but that would also point to a much bigger problem wouldn’t it?
A couple possible downsides are more oil up to the valve covers which gets pushed into the cylinders and blown through the PCV into the intake, and also any leaks that exist will likely get worse. A higher pressure pump may not be a problem but if it does, tearing things down again to fix it wouldn’t be fun.
Which kinda brings up another point. You or anyone else for that matter, could have your oil analyzed by Blackstone or some other company. Might give you an idea of bearing condition and head gaskets.
The only way you are going to get oil into the cylinders is if either the rings are toast or the valve seals are and if either of those are toast, you already know the engine is weak and its time for a rebuild or at least a freshen up. And in order for oil to get into the intake it has to get through the PCV valve, through the PCV filter in the air cleaner, then through the air filter itself. High volume does not necessarily mean high pressure. If you aren't burning or leaking oil already, I don't see how its going to create problems.