OK: these are my recommendations: these are what I’d consider minimums.
-desludge the crank.
-if the ring lands are out of spec, get new pistons. Don’t use chrome rings on ANYTHING but a brand new bore.
-At a minimum, soak the block in a barrel of some caustic, and brush all oil galleys.
-the wear on those mains looked like either bad maintenance, bad oil flow, or a possibly bent crank: get it done correctly.
-install stakedowns, exhaust side, seals, intake.
-make sure the block deck and cylinder head are flat, and repair any cooling passage corrosion.
-recondition rods and use new bolts and modern nuts.
-use a rope seal, just know they will leak. if you don’t want leaks, step up to the pump for real seals.
-Ditch the points and condenser, for at least a Crane, better a Pertronix.
-rebuild the dizzy so the shaft is snug, and check the curve/weights.
-New chains.
-possibly lighten flywheel, and use a diaphragm clutch.
-get it all balanced.
-replace all Welsh plugs.
-set valves (assuming tappets are all within spec) on the looser side, I.e., 0.006"/0.008"
-Make sure the valve seats are not recessed.
-Modern head gasket.
-Rebuild water pump (ceramic seals don’t do well, sitting that long).
-make sure throttle shafts are snug, otherwise it’ll never idle nicely.
-if possible, use new-style upper chain guides, and not any badly-made repops: I’d use decent old ones, before badly-made new ones.