I wanted to update this post with the outcome. I did as Dennis suggested and also as Hank Scott suggested and checked the flow from the oil out line from the back of the engine. No oil came out which indicated the oil pump was the root cause.
Hank advised me to remove the clutch to get to the oil pump to inspect it and sure enough, the splines on the oil pump shaft had completely stripped and the gear was spinning freely on the shaft. I have never heard of this happening to anyone. I don't know when this occured, but I feel lucky that I did not lose my $5,500 engine because of it. I do have an oil pressure gauge, but as luck would have it, the transducer has been acting up the last few weeks and its operation has not been reliable. I recommend everyone have an oil pressure gauge as its cheap insurance for your $5500 engine. Sure, its extra weight, but at some point you have to make smart trade offs.
I also recommend everyone remove one of the rear cam cover bolts and check to see if oil pumps out of the bolt hole when you change your oil. Its another simple, easy way to ensure you have oil pressure after you change your oil. If I had not done this I would have lost my engine.
I want to thank Hank Scott for his help on diagnosing this issue. I've never bought an engine from Hank, but I do run his remote oil system (hands down the best, IMO) and I've bought a few other trinkets from him over the years because he always carries the highest quality, best designed engine parts. He has always talked to me on the phone and returned my emails whenever I have asked him a question and I always get the straight answers from him. I know he's busy building engines, and for him to take the time to help a paniced racer the day before race day by telling him exactly what to do to fix a problem as major as no oil pressure, is really cool. The next neat thing I'll be purchasing from Hank is the billet fuel line adapter he has for sale for the carburetors--another neat, well designed, high quality solution. You can't go wrong by doing business with Hank.
MT