I would leave the break in oil in just as long as any other oil. Might want to take a sample if something doesn't sound right or loss of oil pressure.
Adjust valves?
The valves need to be readjusted as soon as it comes up to operating temp the first start. That should be done immediately after retorquing the head bolts.
Let idle then medium speed then high speed?
No, don't let it idle! Especially if it got a new cam and lifters. The engine needs to be run at least mid throttle to full throttle for the first few minutes. Idling causes poor lubrication of anything depending on splash lubrication, as in cylinder walls, cam and lifters, cam and accessory gears, etc.
I like to preset the timing, fill the carb, get everything ready so it starts immediately. Bring it up to speed, check oil pressure, be ready to top up the coolant, watch carefully for leaks, listen for unusual noises, keep an eye on the oil pressure and temperature, enjoy the small of fresh cooking paint!
As for putting it to work, just do what you normally do. Maybe avoid full load, as in a heavy continuous load where the governor is maxing out the throttle and wanting more. Give it an easy job at first, something to get the rings seated before the heavy work begins, if there will ever be any heavy work.
That's what I do, or recommend anyway... Hope it runs well for you!
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Today's Featured Article - Talk of the Town: How to Remove a Broken Bolt - by Staff. Another neat discussion from the Tractor Talk Discussion Forum. The discussion started out with the following post: "I have an aluminum steering gear housing with a bolt broken off in it. The bolt is about a 3/8" x 1 1/2" bolt. I've already drilled the center of the bolt out with about 7/64" drill bit the entire length of the bolt. Only one end of the bolt is visible. I tried to use an easy out but it wasn't budging and I didn't want t
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