More than likely the cam lobes and lifters are wiped. Metal is churning through the oil pump, clearancing the pump and holding the pressure dump (bypass) valve ajar. Hopefully, as long as the oil filter hasn't been overwhelmed with fine metal particles that plugged it, forcing the filter bypass valve open, the filter has done its job and prevented metal from reaching the main, rod and cam bearings. You need to park it and open it up for inspection before you blow the motor.
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That's the answer I was looking for.....not really what I wanted to hear, but that at least makes some sense. Guess I'll have to tear into it pretty soon and see what's going on in there. Thanks.