Vettefan87---Find a new rebuilder.
My guess is he's bull-****ting you to cover a lousy rebuild. If you're engine is repeatedly going through bearings, the problem is something other than the BS he's giving you about pre-ignition. In fact, your rebuilder doesn't even know the difference between "pre-ignition" and "detonation" because he's calling this mythical problem "pre-ignition" but is having you chase down an ignition timing problem which, if it existed, would be causing "detonation" (aka: ping or knock).
You asked about the distributor...the 87 HEI distributor has no mechanical advance . All spark advance functions are electronic and controlled by either the ign. module inside the distributor for a very short time during start-up and then by the ECM once the engine is running.
You don't have detonation because the computer's EST will dial-in knock retard when it senses it. Also, the Hypertech Thermomaster doesn't have enough timing in it to cause massive detonation, anyway. Plus!....if your engine could even have detonation bad enough to damage bearings, you'd hear it...as would people standing on the sidewalk as you went by. Lastly, if you truly had detonation that bad (or true pre-ignition) you'd have serious spark plug damage that would be obvious. You state the plugs are colored with white and brown which is generally considered normal, although with the heavily-additive-laced unleaded fuels of today, "reading" spark plugs for colors is a very inaccurate way to gauge an engine's combustion dynamics.
No small block Chevy in any street high performance application needs a high-volume pump. In fact, only a very few specialized, very high rpm, all-out-racing engines need such a thing. Why? Because the SBV8 oiling system is an outstanding design. The only thing you need is to change the oil pump pressure relief valve spring to PN 3848911 which should give 60psi hot oil pressure with 10W30 oil at most rpms above idle. In fact, if this "rebuilder" did not already do that, you've got even more evidence that you need to recommend this guy to your enemies.
It is possible you've got a bad crankshaft, and I'd check it for straightness and journal size but I'd also be looking at the block's main bearing bores. I'd be looking for a problem with the oil passages in the block.
Once again....find a new repair shop.