I am waiting on some parts from you then I will check out the adjustment under the acorn nut. I am getting a little oil at the rockers but not much. How much oil should I be getting at the rockers?
You won't get a lot of oil because there is a brass restrictor orifice under the first rocker shaft pedestal. If that restrictor is missing it could be a cause of lower than normal oil pressure.
I will also check out the gasket on the oil filter housing. The rebuild was done by a diesel mechanic that works in a diesel repair shop, they normally work on diesel trucks although that shouldn't make a difference.
It could make a lot of difference simply because of the design differences between engine manufacturers. Take me for instance, I'm factory certified for all Caterpillar and EMD engines, plus hold a federal diesel marine engineer's unlimited license, but my Chinese engine experience is limited to my own tractor.
What way should the regulator be on the oil filter housing? Mostly in or mostly out to start the pressure check?
Screwing it in will (should) raise the pressure. Screwing it out lowers the pressure. One can only hope the cause for low to no oil pressure is not from improperly installed bearings.