They may be ok. First drain and change the oil. I would attach a manual oil pressure gauge to see true oil pressure at startup. Would probably be a good idea to take the distributor out and turn the oil pump shaft with a drill. You can use a long extension and a 1/4" socket to fit on the top of the oil pump shaft (in the distributor hole, the dizzy fits over the shaft). Tape the socket to the extension so you don't have to fish for it if you lose it. Turn then oil pump (counter clockwise)and watch the pressure gauge it should come right up. Hope for 30 to 60 lbs. Take the valve covers off and watch for the oil to start coming out at the rocker arms on both sides.
While the covers are off you can use a rubber mallet to hit the valve end of the rocker arms. They have been sitting in one position for a long time and may be frozen in place. With luck a whack will break them loose. Otherwise bent push rods are in the offing.
Now the oiling system is accounted for put the distributor back in. Check the water and oil levels and if they are ok start the motor. When it starts I would bring the idle up to about 2000 rpm by adjusting the idle screw on the carb linkage, and let it run about 20 min. Watch the oil pressure and water temp. The oil pressure should be ok if you had a gauge reading.
If the temp starts to climb over 180-190deg you may have to remove/change the thermostat. As far as the water pump is concerned you should see a problem real quick if its leaking at the weep holes or not pumping enough water. Wait for the thermostat to open though.
These are generally the basics. Some folks may recommend other additional steps but it should get you running.
Hope this helps. Chuck
Y's guys rule!
Looking for McCullouch VS57 brackets and parts. Also looking for 28 Chrysler series 72 parts. And early Hemi parts.
MoonShadow, 292 w/McCulloch, 28 Chrysler Roadster, 354 Hemi)
Manchester, New Hampshire