Pushrod weight has no bearing on anything. Oil in the pushrod would again, have no bearing on anything.
Also, there shouldn't be over-oiling, in any situation, regardless of whether it's oiled through the head or through the pushrods. I will even venture to say that it's *harder* to over-oil when you're oiling through the pushrods only, because the lifters meter the oil going through them. This is especially the case with hydraulic lifters. Even so, guys over-oil the top end with factory setups all the time.
Modern rocker arm systems, including my own rocker arms, T&D street, T&D race, etc., use common 5/16" ball tipped pushrods. All-in-all, pushrods are cheaper and easier to get, without having to custom order ball/cup pushrods, 3/8" ball pushrods, etc.
Just so you know, Cup engines run dry sump and they run with the valvetrain almost submerged in oil.