Definitely pre oil it. You have no clue how much cranking it may take to get it going, and those bearings and all other parts have had all those years to dry out. Be sure and use an oil compatible with flat tappet cams. This is a must. I would replace all the belts and hoses before anything beyond a test on jack stands. Ditto with the brakes. You are going to do this work anyway, might as well do it first and not risk a wreck.
