Yar's post not withstanding, I strongly second Wrenchbender Ret.'s advice: "I think I would use what the rebuilder says. Then if you have a problem he can't say you should have used the lube he specified.". No finger pointing, if there is a problem.

Tim
1954Advance-Design.com
1954 3106 Carryall Suburban
1954 3104 5-window pickup w/Hydra-Matic
The 216 and early 235 engines are not "splash oilers" -- this is a splash oiler.