Hello-
My 1937 216 when cold will hit 30psi, once the oil warms up and driving at 35 mph around 15psi, 3psi at idle on a hot day. I have put over 12k on that engine in the last 5 years. No problems. I run straight 30 weight. I have also used 20W50 in that engine. Remember you also have dippers on the rods. Not all is lubricated with the pump.
My Uncle bought the truck new and said he only had the valves done once, no lower end work. I have never rebuilt it. Just resealed it. 63k on the engine and going strong.
Brent