regardless if the tires deflated or not, it would be extremely dangerous to run on that old rubber. tires which have sat in one position for years will get "squared off" and develop weak points in the rubber. this is a MUCH worse problem for radials ( as the steel belts will develop a memory for the out of round shape ), but i wouldn't trust bias ply that old.
have you started it up already? you didn't really say.
if not, i'd pull all the plugs and spray Marvel Mystery oil in, let it sit at least over night and then spin it over for a couple of minutes with the plugs out.
you're certain to have surface rust in the cylinders and this may foul the rings.
best thing, of course, would be a full dis-assembly and inspection with replacement of all gaskets, at a minimum.
certain of the valves springs ( the ones which were under compression while the engine was sitting ) may also be weak, a new set of springs certainly would be a good idea.
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
Vladimir Lenin
Government schooling is about "the perfect organization of the hive."
H.H. Goddard, Human Efficiency (1920)
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