Quite correct, except for you forgot to mention the clouds of smoke it will blow out the exhaust while the oil is burned off. This does nothing, just a good warning before it freaks out someone.
Personally, I have revived quite a few standing motors also but with it being an F and a Cruiser, I...
If your points are fouled/pitted/dirty/etc, you may not have spark. Don't leave the coil permanently connected to power if it does not work and you are going away.
If you have spark, use a small plastic drinks bottle with a cap, make a small hole in the Middle of the cap and fill with gas. This...
If I am reading right, No! Connecting both jumpers to the starter solenoid will create a dead short.
First, clean up the red ground wire between the starter bolt and frame at both ends, including the Bolts. Connect the earth/negative jumper cable to the bolt at the frame end of the ground...