Well, I got it running and it just fired up and sounded great! I started it right now to see if the fuel pump even worked, so I put a hose from the fuel pump to those red five gallon jugs of gas in the bed away from the motor, primed it up, had my brother put some gas in the carburetor to help it start since it hasn't for quite some time, and presto, it started!
No real major problems (knocks,etc.) Just need to replace the gasket on the valve cover and side timing cover! What a joy, I was hoping that I could keep the old 216 in it! Now it's getting the tank put in and check the clutch. I have a video of it if you're interested, photobucket would take a lot of time to upload, even with my high speed internet. Anyway, just keeping you posted on the progress!
Have a great weekend!