I don't know about the brake shoes but what you want to do to the engine sounds pretty good. I'd let the mystery oil work for a couple of days at least before trying to move it. If it won't move on the first try put some more oil in it and let it sit again. I'd also check the points to make sure that there not coroded, clean points work better. When you do turn it over it should turn without having to use a breaker bar on it, just a standard 1/2" rachet should be fine.

good luck, hope it runs.