Well, I’ve often thought that as part of oils job is to cool, wouldn’t it be better for these oil holes to aim to the centre of the barrel, which is hotter?
I don’t have an answer to my own question, but as pointed out by others, many after market rods don’t even have the holes, and they run fine.
I think it’s alway interesting to note that irrespective of holes or not, EXACTLY the same amount of oil passes past the shells and ends up as splash / mist. Which is what lubricates and cools the rest of the bottom end.
I had a long conversation with Pete Lovell about these holes and he had no strong opinions either way, having built many, many engines with and without, and not seen any differences in wear / life / etc.
So, if engines run well with the holes, and equally well without them, I can’t personally think of a practical down side to having them, but facing the opposite way.