Lifter galley paint

I read the same thing back in the early '70s and did this on the 340 that I built for the '69 340 Swinger I had way back then.
I never noticed any evidence of peeling or flaking, but it was done on a block that had been hot tanked and then freshly machined.
Today I would use Glyptal but only after completely cleaning the block following machine work.