I just recently did this with my 454.
Do what Capt says and...
Fill it up with cheap 30wt oil and some EOS (ZDDP additive).
I bought a pre-oiler from summit for about $20 and spun it until oil flowed from the pushrods.
Once I got it fired up after 20min @ ~2000rpm (cam-break-in), I changed the oil with 10W30 and a new filter and added more EOS.
During the cam-break-in process, I had a small coolant leak and two plug wires crossed. I shut it down and fixed those before continuing.
The last new engine I fired was 20yrs ago, and surprisingly I had the distributer pointed close enough and had pre-adjusted the lifters correctly.
