I replaced the oil pump on my 292 Y last night. The OE one looks different than the one I got from Napa. Im attaching some pics. First off, the small spring type washer that goes around the drive shaft in the pump was broken when I pulled it off. I couldn't find another one so I installed it with out one. It all seems to be working good. My gauge is reading 30 psi at idle when hot and up to 60 psi at a high RPM when shifting the 3 spd. Not sure what RPM cause no gauge. Im running 5W30 full synthetic oil cause it was free! Now Ive heard mixed reviews on what oil to use in an old high miles engine. Should I use 20W50 regular oil and possibly with a Lucas additive?
Both pumps are correct. Get a rebuild kit for the aluminum one and rebuild it. The aluminum pump is favored over the iron one by Y performance enthusiasts, but either one will serve you just fine.
The spring washer prevents the shaft from pulling out of the pump when you remove the distributor. It won't hurt anything if it's absent but it may be frustrating if you have to pull the distributor.
There's nothing wrong with using synthetic in a high mileage engine, but make sure that it provides adequate protection for a flat tappet engine. The 5w30 probably does not but go to the manufacturers website and find out. It's usually available on the web but if not, send an email. If it's not adequate, you'll need an additive. The next time you change the oil, and additive will not be needed if you use an oil with the right stuff.