One key issue here is older engines that use flat tappet cams need a higher Zinc (ZDDP) content than modern engine oil. This is an anti-wear additive that is essential to keep your cam from being damaged. Newer engines use roller cams which allow them to use a lower ZDDP content in the oil which is important because ZDDP is hard on catalytic converters.
I've read several online discussions and posts which suggest that oils have come a long way since some of these older engines were designed and that while SAE 30 works it is recommended you user 25w-40 (the standard 4-cycle engine oil) in your 4-cycle instead. That is good news since 25w-40 is easier to find.
Bad news is you still need the ZDDP but there are products and additives that provide the extra Zinc which might be easier to procure than SAE 30.
While I wouldn't tell anyone to do this without doing their own research it is something I am going to try and look into more closely.