In your somewhat isolated situation and assuming you are not planning on racing or long distance high speed driving, I would try to get the engine running unless you are prepared for a complete rebuild. As others have said some rust in the cyl's isn't the worst thing that could be wrong. The Cyl walls are the most likely parts to have rust since there was very litle oil there when you shut it down. This is not the case with bearings cam timing chain etc.
As Ted has suggested rap each valve with a soft hammer to be sure it is free. At this time check all valve springs to be sure none are broken .
Also if your magnet isn't strong enough to lift a pushrod then bend a piece of coathanger wire to just slip around the head of the pushrod and lift it out with that. Don't jam the PR down with the magnet, they can wedge into the hole sometimes and be really annoying to get out.
I would also take the rocker arm assemblies off and make sure all all rockers rotate on the shaft and the oil holes are clear in shaft. Also check the surface that contacts the valve on each rocker. This should be a smooth contour but is very common to have a depression warn into this surface. Such a depression makes adjusting the valves almost impossible. It is possible to grind the surface down to the depression so that the feeler gauge can get directly between the valve and rocker.
This is also a good time to clean out the black sludge that may be in the heads and rocker arm covers. Be sure the drain holes at the back of the heads are clear. This can be a problem because the top rear head bolt runs right through the drain hole. If it is really gunked up a lot you can remove the one head bolt and run a bore brush through the hole. Of course you need to re torque the head bolt after this cleaning. I am not exactly recommending this but I have done it and didn't have a problem.
As you put the push rods and rockers back use a lot a fresh oil poured liberally over the valves rockers and pushrods. After you get it running check that there is oil coming out the copper colored overflow tubes in each rocker assembly and that each rocker is getting oil.
You can still have a lot of little problems such as bad ignition wires bad valve stem seals but if you put it away with the mechanicals ok then they still are.
Doug T
The Highlands, Louisville, Ky.
