Dino oil breaks down and who knows how long the detergents take to break down as well. Synthetic oil would probably be ok. It's always a good idea to start an engine up at least once a month if not each week if it wont be driven. It must get up to operating temps too just to be sure everything is circulating, and that the additives in the oil get mixed properly and are doing their job.
Do you live in a warm climate, or does it have a snowy season? lots of moisure? Moisture will eventually creep into the engine and do damage to the oil that way too.
edit: just saw your location. The moisture there might have done some bad things on the inside of the motor
if you used an oil additive like lucasoil or something to keep it sticking to metal parts, then you should be ok.
2nd edit: yea if the motor was stored in a heated shop for the amount of time it sat, then it should be ok... but who knows