Jfnar,
When I was working on my 53 my motor was seized tighter than my wallet (and that's saying something, lol). I did much the same as you, pulling it apart and cleaning it. I'm not sure if yours has sealed bearings, but if it does I drilled a very tiny hole in the rear of the motor and dripped oil into it until the felt pad that Atomarc spoke of absorbed the oil. It was a bit messy, but I knew it was full when the oil started running back out. Then I wiped it clean and put a dab of silicone on the hole to seal it. However, you might not want to drill holes in a nice motor, so it's just a thought. Hope it helps! Good luck.
