Use stock 1970 340 rods in rebuild?

Something else...You should always have a windage tray right?
If the engine has not been cracked open before, there should be a windage tray in there, it was one of the "perks" of a 340. If you got one great, if you don't, it's not the end of the world.

Another thought.........if you don't have a tray and you want to do something, go with a crank scraper.