Have you removed the drain plug out of the pan yet? Don't be surprised if nothing, or just a trickle of oil, comes out. Be ready for big-time sludge, and hopefully not a lot of water. That's a LONG time. You seriously need to thoroughly inspect the engine before trying to get it running.
That Montgomery Ward oil filter is cool.
I have removed the drain plug... yes it had some sludge but no water...
my father and I got it running already. It needed new water pumps and belts, radiator, hoses, r & r starter to free up the gear (would not engage)
I have changed plugs, cap, rotor, wires. It now starts and runs but I need more time to get it on the road.