Look for liquid to appear once the system is energized. Drain the oil, clean the sump, change the filters, fill the sump with new oil, and run the pumps. Then, listen to the pumps for noise and output pressure. If the pump intake is engulfed in chips, it is likely that the pump will have some premature wear, and that chips were transferred down the line. This will affect the coolant pressure and require that the lines and solenoids be cleaned.
Most sumps have baffles built into the sump that keep the chips away from the pumps.
However, if the sump is not cleaned periodically, the chips will spill over the baffles. Too many chips also can make a coolant system seem like it has a leak and can even act like a siphon, drawing coolant from the sump to the floor. These are all symptoms of bad coolant. The longer this system is ignored, the worse it is going to get. Water-based systems are a little more work and require daily checks.