Slow progress! Truck's been pretty much on the back burner, been tinkering on it here and there. Finally got the engine unstuck using an unnecessary amount of PB Blaster, a strap wrench and the ol' Farmall.
Saturday I tossed a fresh battery into the tray and hooked up the cables, crossed my fingers and turned the key. And it turned over! It has a little over 20 psi oil pressure. All cylinders do have compression, me and my dad were going to run a test but quickly found out that the compression gauge wouldn't fit into the deep-sunk spark plug holes. We're going to try and cut down one of the oil burners and use it as an adapter.
Here's a quick video.
https://photos.app.goo.gl/r7MAqNXs3PASSZAn7Next will be to set the distributor correctly, new plugs and plug wires, and see if we can get it to run for a bit.