Every engine has an oil pressure relief valve. If they didn't, when the oil was cold, the system would hydraulic up.

On my old Cavalier it used to get sticky and you'd see the oil pressure drop. Reach under, whip it out and clean it up and then back in and full pressure again. By the time it had done 120k miles it was pretty much required every year.
 
Not sure on the L322 but I'd imagine it must have one?! @Saint.V8 will have had it out if it has one.
The M62 does have one - I believe it is integral to the Oil Pump drive which sits in the oil sump and bolted to the bottom of the engine. It is driven by a chain from the crank sprocket. Early BMW V8's suffered from the pump bolts working loose and oil pressure dropping then lunching itself....the M62, while using a similar setup to the M60, doesn't suffer as bad from loose bolt syndrome....but still should be checked at intervals, in similar fashion that the drive chain tension should be checked.
 
The M62 does have one - I believe it is integral to the Oil Pump drive which sits in the oil sump and bolted to the bottom of the engine. It is driven by a chain from the crank sprocket. Early BMW V8's suffered from the pump bolts working loose and oil pressure dropping then lunching itself....the M62, while using a similar setup to the M60, doesn't suffer as bad from loose bolt syndrome....but still should be checked at intervals, in similar fashion that the drive chain tension should be checked.

That would make sense.

The original question was something along the lines of "why does my engine sound like a bag full of spanners falling down the stairs." He's replaced several injectors but is worried the tappets aren't getting enough oil or the oil getting to them is too thin. Hence my thought that maybe something was a little blocked. Could be the oil pickup too, now I think about it.
 
So a little update,
Drove to Le Mans via Newhaven/Dieppe,
Was quiet to the ferry 5 hours, noisy as soon as it was started to get off the ferry and the next 3 hours to Le Mans,
On the way back now and it was quiet 160 miles then the last 10 the noise was back.
Think I just need to learn to ignore it.
 

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