Since the oil pump runs off the distributor I would begin looking there for the source of the noise since you changed the distributor. It's possible the oil pump push rod is not engaging correctly in the distributor end or pump end. As far as the bearings go a slight copper color just means the coating is off which isn't that surprising if the engine is original. However, metal shavings is not good if you just changed the oil. First off though, I would take the oil pump off and check the push rod and make sure the oil pump isn't the source of the metal shavings you are seeing.