It is better to use an engine oil formulated with enough antiwear additives than to brew one yourself. Modern multi-grade oils have much better viscosity indexes (ie, are better at not thinning out with increasing temperature) than those that were available back in 1954. Engines need oil flow and oil pressure is a characteristic of flow so I would very careful about using a thicker oil than was originally spec'd. Heavy duty engine oils have higher levels of ZDDP (up to 1200 ppm of phosphorus) than Starburst gasoline engine oils (up to 800 ppm of P). However dual-rated 30-grade HDEO (ie, API CK-4/SN) are limited to 800 ppm of phosphorus. Phosphorus is the antiwear component of ZDDP. According to Bob Olree (GM Powertrain Fuels and Lubricants Group), high levels of ZDDP are unnecessary for oem-style flat-tappet valve trains. See Engine Oil Myths - GM TechLink and Engine Wear

I like Petro-Canada Duron SHP 10W-30 because it uses the same additive package of the 15W-40 grade that is approved for API CK-4/SN.

Rods & Relics - Fort Erie / Collector Car Tech