The thermal pellet should be discarded and a solid plug installed. A failed pellet can destroy the engine. Or use the early crank that has no such pellet.
For stock oil pressure (71.1 pounds) for all but twin turbo engines) Racing Beat says remove the balls and springs and install a Weber .200 main jet. I use a 180 jet but I have 100 PSI all of the time. The balls and springs are there to maintain hot idle oil pressure, and assist in rapid warm up. At idle RPM, no cooling oil is sprayed into the rotors.
Once the RPM comes up a bit, the centrifugal force and oil pressure push the balls off of their seats and cooling oil flow is controlled by the stock metering jet hole.
But remember that this is cooling oil for the rotors, and it is also a big oil leak in a system with a just barely adequate oil pump.
I have never heard of drilling the stock jet hole bigger. If anything the holes are more than adequate in stock trim.
Oil temps over 210 are verboten, IAW the Racing Beat Catalogue. Anything over 160 is costing HP, but is hard to maintain.
Water not over 180 flat out.
Lynn E. Hanover