As CNKS pointed out, any modern oil is going to be better than what was in there in the 50's. The quality of oil has been continuously improved by technology.
That being said, the newer CJ-4 stuff is engineered to be backward compatible. ZDDP is old tech stuff and newer tech stuff is replacing it.
Another thing to consider when you look inside these older tractor engines is that there is a lot of bearing surface area for the loads and power levels. Also the valve springs loads are relatively light in keeping with the low rpm's these engines run. They would probably do fine with just about any modern oil, although I wouldn't go lighter than a 30 straight weight or 15w-40 myself.
It's more important to keep clean oil in it than to have fancy oil. The racing type oils have higher zddp levels, but lack the quantity of detergents needed for street driving and tractor use. They know racing engines don't put very many hours on an oil charge.
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Today's Featured Article - Women and Tractors - Tractor Engine Repair - by Teri Burkholder. One of the great things about working on a tractor engine with your other half is that you know what he is thinking of at all times and can anticipate his every move and his next thought of what he will do. With Ben, anyway, I can tell! He'll be busy working and I’m handing him tools and he says, "give me that..." and I’ve already got it in his hand or "hand me that....."and I’ve got the portable light right where he needed it placed to see. "Run in the house and get me a...."as I open th
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