340 compression ratio

I also need to decide on what motor oil to run on this thing. And the proper oil capacity and oil level. He put on a oil pan part number MOR20710 273-400 10” DP with a ext oil pump pickup part number MOR24700. What oil do you suggest and how much with this oil pan? That way I can make sure the oil level mark on the dipstick is correct.

That's a 8qt pan, not counting the filter. To mark the dipstick for full capacity, i'd put about 8 1/2qts. in, run it to fill the filter and check the stick. Scribe a new line if need be.

Do you remember what the oil pressure was Cold, Hot idle and Hot with some rpm's? Might give a window into what pump and bearing clearance your dealing with.

I'll let others recommend oil type. Last oil I used in a performance engine, many moons ago, was regular ole' Castrol GTX. To many new oils out there now for me to make a choice for you.