I'd change the oil and filters, not really all that expensive or a difficult job and you can give the car a spanner check at the same time.
With the cambelt, you are probably ok but I'd take the belt cover off to have a quick look. Probably better access on the Morgan than on a FWD Escort.
One issue I did have with a stored CVH engine was the belt tensioner bearing had seized causing a hell of a racket on startup
Arwyn
