Howdy Back Lazy:
You didn't say what year engine you're working with, or how many miles. That would make a difference on what I recommend to you.
On an older engine, in good condition, assuming a good state of tune, a good cooling system and driven regularly, I'd recommend straight #30 or #40 weight oil summer. #20 winter. Or a good #10w-40 year around. Many here prefer the Rotella diesel brand for less cam and lifter wear.
On octane, a stock '65 200 has a CR close to 9:1. On an original, OEM engine, with carbon build up, I'd be looking for 87 or higher. Fortunately our small bore, wedge-shape combustion chamber engines are knock resistance, but time and carbon creep can cause hot spots causing pre-ignition.
A good additive to reduce carbon will help if you get any knock.
Which ever weight of oil and octane of gas, make sure that your choke is not set too rich and that oil consumption is minimized. Both tend to delute the oil and contaminate it prematurely.
Adios, David