I don't think that the 216 deserves the bad rap its getting here. Sure pressurized 235's are a better motor and make more torque and horsepower. There are still many 216's on the road today and function just fine if used as they were designed. If you want your truck to haul big loads and go 70 mph down the freeway then the 216 would be a poor choice for you. If you want to have an engine in your truck to toy around with and don't mind driving the back roads and staying off the freeways the 216 will do just fine. You can drive your 216 all day at a reasonable speed and it will be just fine. All of the early engines and especially the ones that had cast iron pistons used some oil, I've heard that a quart in 300-500 miles isn't anything to be alarmed at.
If can contact a Wisconsin State trooper ask him to do a VIN check on your truck. Have the numbers on the engine cleaned off so he can easily see them. Then show him the VIN plate in the truck and he can fill out the paperwork so you can have the ID# changed on the title. I went through this with my '53 6400 and everything went just fine.

Good Luck