I run some stuff that has never been 'opened' in 40-50 years and yes, the spring pressures are certainly lower than 'as new'. Yes, the maint/repair/parts replacement history of that LT1 engine is important. Since I don't run those engines of mine too hard or up to high RPM anyway, I don't worry much about valve float or the ZDDP issues. Of course, I did't necessarily panic when leaded fuel went away and ethanol came about either.