HPR30 is by far the best on the shelf oil for flat tappet engines.
Like NAAF said you need a high zinc oil otherwise you can kiss your cam goodbye. The amount of people I see using Mobil 1 or Castrol Edge in 5L's and destroying them is amazing.
Hpr15 in my 355"
Only thing i have used since taking the run in oil out. Probably 3&1/2 years now and multiple changes. I personally think the hpr30 is too thick.
What did your engine builder set it up to run on?? ( bearing clearances etc)
HPR30 is a great oil for a stock/worn 304 but if you have a built motor with known bearing clearances etc that doesn't bleed oil pressure like a stock worn 304 than something a little thinner is worthwhile. You definitely want a high zinc oil for use with a flat tappet cam as mentioned and don't try to idle the engine to low. Also as mentioned above, ask the engine builder what he recommends.
Idling low for long periods is only really a problem with flat tappet cams when they have an aggressive lobe ramp rate. Otherwise you're pretty safe
I use hpr 30 in my 308 because it's an old shitty engine with clearances on the loose side. In my 304 I've used hpr 15, hpr gas 10 and currently hpr10. It seems happy with hpr 10 and sees redline quite a few times each day and haven't had a problem with any of those oils. I just wait till they come on special. Penrite hpr's 40% off atm at supercheap too.