Hello again Peter C,
Happy to hear you have your ST3 running well. I checked my manual for valve clearance, and .008" is OK. Book says .006"gauge is "go"
and .008" is "no go", so average setting is .007". Noise will be a problem, and a bigger muffler will help somewhat, but look for one made for a diesel,
as some gas types carbon up and choke the motor.
Yes, you will have to allow it lots of air flow, as in hot and calm conditions air can recirculate and cause overheating. The ST series have no provision for
air outlet ducting, so an open structure is the only choice. Most aircooled motors radiate a lot of noise by their very design, and your best hope is to reflect
noise away using a solid barrier, (brick, concrete etc) and hope you have tolerant neighbours.
Your top end oil flow is probably OK, it increases as the oil warms up and thins out under load. You have a tough old unit there. Installed a well used ST2
unit out bush several years ago and it ran 24/7 on full load up to 110 degree temps and refuses to die. Regards, Combustor.