Greg,
You might want to consider using 10W30 or 10W40 instead of 30W.  A thicker 
oil will give you more pressure but less flow, more flow will run the bearings cooler.
BTW, I have an 
oil cooler installed, but not hooked up.  Joe Lapine (who built my 302) said it just wasn't needed except for track use.  So far he has been right - without a cooler my 
oil has never gone over 190 degrees.
Jim