As to ENGINE OIL CHOICE -
http://forums.y-blocksforever.com/Topic162673.aspxhttps://www.upmpg.com/tech_articles/zddp/index.htmlhttps://fifthaveinternetgarage.com/tech_tips_Modern_engineoil.phphttps://www.enginebuildermag.com/2012/03/zddp-when-where-what-why-how/Simply put, if an engine has a flat tappet cam, especially w/ high spring pressures (without converter on a street car), it needs a dedicated BREAK-IN OIL for first fire and engine break-in. It has no detergents or dispersent package(s). It is used for BREAK-IN ONLY. Drain and change filter.
You would then use a mineral oil (IMO) for say the first five hundred miles or so and change it along with the filter (break in particulates).
At this point you would decide to go with mineral. semi-synthetic or full synthetic. Choose the oil wisely as to ZDDP content amount. Synthetics are available with correct ZDDP level(s) but you have to be careful as ZDDP with increased detergent/dispersent package levels causes foaming. Do not use a full RACING OIL on the street unless it is a weekend thumper (or you run moonshine) and is changed frequently (fuel dilution).
As was so eloquently mentioned, ATF depends entirely on the friction material used in the overhaul kit. Either the kit manufacturer or rebuild shop should be able to advise on that.
DO NOT USE bargain basement lubricants. All it is going to do is cause heartbreak.
The above is IMO and mileage(s) may vary ... Keep salt shaker close.
____________________________