I don't recall if you said but with readings like that with 30w oil I'd suspect that engine has been recently rebuilt as your getting great oil pressure readings.
How loud are the valves? 216's are notoriously loud in the top end but can be quieted down quite a bit with proper valve adjustment. If you aren't hearing loud valve tapping do not be concerned. If you hear an intermittent tap that comes and goes I wouldn't be too concerned about that either as the clearance can and will change with temperature, both engine temp and outside temp.
Also the rockers can get worn some at the tips and if so theres an easy fix for that too. But again, don't over sweat the sounds it makes, just learn them. Keep in mind once our E TN weather warms up you'll probably not get any more noticeable condensation and engine warm up will be much quicker which will change the sounds your hearing now.
Just keep monitoring the gauges and listen to what the engine is telling you. These old 216s have been around quite awhile and have powered everything from light cars to heavy tandem wheeled trucks and did so for yrs. If your 216 doesn't sound like it's about to fly apart at 50mph and your gearing is still stock, you've got a very good truck, enjoy.
