First engine I assembled, back in Reagans first term, I used a 50-50 mix of STP and 10w40 Valvoline. That's what my dad had been using since the 50's, I was broke and he was writing the checks, so I did as I was told. Worked just fine. Now days I like the "bats blood" like Permatex Ultra-slick or better yet Torco MPZ, which comes in a handy spray can. I've also used the Lubriplate white grease engine assembly lube, which is great if the engine won't be started for a period of time after assembly. For flat tappet cams, I prefer a moly EP type grease, which is what the cam grinders supply, and for good reason. It will stay on the lobes until it's actually washed off by hot oil. Regular engine oil is better than nothing, and probably just fine if the engine will be started soon after assemby, or primed just before first start. Just don't assemble anything dry.