My money is on the centre main bearing. Either the cap has a problem (unlikely) or the thrust washers are toasted and/or it's spun the bearing.
I had a similar problem when I built my 1360 auto block the first time 2 years ago. Nothing to do with the block being an auto, prob was I set the endfloat at .003" as the books say.
.003" is NOT enough if you are going to rev it. <edit> because 1275 cranks flex the middle crankwebs a lot.
When revved to 7000 at Wakefield Pk 1000 miles later the thrust washers got bronze peeled off by the crank, the centre main overheated, and it almost spun the bearing in the block. I brought it home on a trailer, thanks Mini Mad.

The S crank was bent .007" and needed the mains ground, again.
It won't happen now, it was built with .007" endfloat this time. GR uses .008" for race motors.
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DrMini- 1970 wasaMatic 1360, Mk1S crank, 86.6HP (ATW) =~125 @ crank, 45 Dellorto (38 chokes), RE282 sprint cam, 1.5 rockers, 11.0:1 C/R.
