those temps. seem fine. 220F is a bit over 104C which is ok. 230F (110C) is still ok but, I'd be happier with a full synthetic 10/40 in the sump!
Although 20 psi is a little bit low on average, it's more important what the pressure is at the running revs. If you're seeing 80psi or above at 3000rpm, it seems fine. As it's a re-built engine, you could have slightly larger bearing clearances?
JohnD