1950 THREE QUARTER TON,
Welcome to the Stovebolt. These old six cylinder engines will not throw oil like their big brothers. What you are seeing is normal. The lube hole through the rocker shafts is on the bottom, so if you see oil bubbling out the top, you know it's doing its thing.
Your oil pressure is great, and the 10w-30 will work fine. The old stovebolts will give you plenty of warning when they need attention...again, welcome.
Stuart