That sounds like the right procedure luvpsi. However I recommend you do the last step I suggested above, and run the engine under load for half an hour or so, ASAP. The reason for this is there is probably still some water in the OHC camshaft/rocker compartment (top of cylinder head, under the tin cover with OHC on it), where there is very little oil circulation. In a long warm run, heat from the cylinder head should evaporate that water and distribute some clean oil on the moving parts.
