Hi Mike
The noise from the belt has a couple of causes that Ive found:
1. Rust or rust pits on the pulleys
2. Misaligned pulleys, particularly the generator
3. Old belts, they look OK but they get hard
4. Unusual load such as water pump or generator getting hard to turn
5. Belt tension too loose or too tight
If you are ever driving a Chevrolet CMP with the six blade fan and the engine gets quite, pull over you just lost belt.
As to the oil to the rocker assembly remove the cover and run the engine you sold see oil running out every where. Take look at some of the videos on my Web page. Look at the bottom of this page
http://canadianmilitarypattern.com/EngineTesting.htm to see example of no oil. If there is no oil getting to the top then check the lifter gallery may be dry or you may find that is where the oil is broken. Take look at
https://m.youtube.com/watch?v=bzq0JV...ature=youtu.be 235 engine but same idea.
Cheers Phil