Read Deve's write up, it answers all your questions. It's easier to link it then to keep writing it up all the time.
I can tell you this, don't turn it over till you are ready to break-it in. You need to have the time to do a proper break-in, once thats done, you can start it when you want and for as long as you want. The short little runs are not good for a new cam. Also, just turning it over by hand is not good for it either. It needs oil pressure ASAP, or you risk bearing failure and or cam failure. Best to just let it set.
Oil choice is yours. Name brand 10w30 with additive, or break-in oil from Comp Cams, Royal Purple, or my favorite Brad Penn. All are good choices. Lucas makes a good additive and Comp Cams also makes one, both available at most parts stores. Summit Racing can get you any brand you want. Not synthetic till after 100 + road miles if you want to go that route.
