The hydraulic rollers need about .040-.050 of preload - equates to about a full turn from zero when warmed up. Hydraulic rollers will have a light sewing machine sound, but should not be as loud as a solid. If the ticking is loud you might want to check things over. As Bret said - some of the more agressive lobes are noisy.
Its more challenging to set preload on a running FE since the adjusters are dancing up & down on the rocker.
As for
oil I tend to use any good name brand 10W-40 on dyno break-in with rollers. I'm not real fond of heavy base weight stuff (20W-50 or straight 30) for normal use in these engines - seems to take longer to get a pressure reading.
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Engine Masters Challenge Entries
91 octane - single 4bbl - mufflers
2008 - 429 cid FE HR - 675HP
2007 - 429 cid FE MR - 659HP
2006 - 434 cid FE MR - 678HP
2005 - 505 cid FE MR - 752HP