Grey stuff in my oil

[John Pasinski]

I'm hoping someone can tell me what the grey stuff is that's floating, and swirling around in my drained engine oil. It looks kinda psychadelic (you old guys like me will know what that is). I was told by a 37 year machine shop veteran that it's lead shot remnants from the P/O having the block SHOT PEENED. I have super high oil pressure at the guage, and only low pressure at the rockers; and the same guy said somewhere in a gallery that lead shot is plugging it up. If any of you concurr with that, it appears I may have to disassemble the engine and get it out using a pressure washer to dislodge it. Anyone heard of this? ALSO; When I removed my oil filter, there's two 7/16" bolts holding in the FILTER BY-PASS(?). Can I remove them and check that for a clog? Thanks.............