Wow, I was not expecting so much response. Thank you everyone for the replies and the welcome. OK even after all the replies my question still remains, is it possible for the hydraulic lock issue and if so I would really appreciate an explanation on how and why. Once again thank everyone for the welcome and your answers.
complete rebuild small block. new cam and lifters, proper break in. ran fine after break in then later when i started it up again it had a miss to it. I could hear it popping through the carb real lightly. After checking things out i found that some of the valves were not closing all the way. I have never heard of lifters going into a hydraulic lock (if there is such a thing) so i took each one out took them apart and emptied the oil out of them and reassembled the engine. initial startup is fine but after a few minutes the same thing. Oil pressure is about 80 psi