You can get many suggestions and there is not a right or wrong way of doing it. My suggestion is simply my opinion, for what it's worth. The original low pressure oiler will not be a good choice. So now the options are many. Another stovebolt six will bolt in very easily. I was exactly in your position a year ago. I found an old 261 which are quite plentiful in Canada and shouldn't be hard to find for you either. It cost next to nothing but the rebuild was around $2000.- . It will look very much like the original, but will last longer and still has lots of torque and horses. For me, because I like to keep things pretty much as they were, this is the right engine. I will not second guess my decision.
