I have had great luck with older long stored engines doing the following.
Marvel Mystery Oil in gas, four quarts of 20w-50 HD oil, STP Blue bottle as last 1/2 quart in oil pan. All this after good cleaning of oil pan and dipper tray.
I would think that you would want to slowly remove any built up sludge around rings, valves, and valve gallery.
Change oil after you run engine a coupe of hundred miles. Or when oil looks dirty on dip stick. Just take it slow, these are great old engines. They can take a lot of beating.
Enjoy.
If you drop oil pan, clean oil pump screen.