"No, most of it is up in engine while running. If fact used to run a 1/2qt over in by 1st 68FB..."
Yeah, back in the old days I ran 7 quarts total, in my bracket 455's, when running a stock pan. This was with 50 weight Valvoline racing oil, a bottle of STP, 70-80 psi oil pressure, and pipe cleaners in the pushrods. Shifted at 5000 rpm & crossed a little higher. Never had any oil problems.
At higher rpm, there is a lot of oil pumped to the rockers, especially if you are running thin oil, and not running restricted pushrods. This could easily pump the pan dry, by the end of a 1/4 mile run, or any extended high rpm operation.
Obviously, if all you plan is some under 3000 rpm cruising, 6 quarts is plenty.