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The oil flow is outside in, so that's a good thing. I'd still pull the lids and check on top of the heads. Maybe give it an oil and filter change, maybe a couple, then see if it fills the filter can again.
Well, if you don't want to go too deep into the engine, pull the valve covers and see if there's metallic sludge in the freeze plugs in the top of the heads. Then you'll know if it's been circulating thru the engine for an extended time and the filters were bypassing. Was the metallic lookin'...