Resurrecting old thread - new info...
After taking the car on it's longest drive since 1973 (~200 miles), I returned to find some smoke still coming from the oil filler cap which was just replaced with a new one before the drive. A slight drip of oil was running down the valve cover as well.
So... I had wanted to do a valve adjustment for a while just to be sure things were set correctly. I did this with engine off by using my breaker bar and turning the engine manually until each valve was fully closed, backing off on the rocker nut and then tightening down until no up/down movement in the pushrod. I then tightened each nut another 3/4 of a turn.
Upon firing it up, it sounded like one of the lifters was clattering for a while (4-5 minutes) until oil warmed up and filled what I'm guessing was a drained lifter
Engine had been run the day before so not sure why it drained out like that.
Once the clattering stopped, it seemed to be running fine so I put a vacuum gauge on the intake manifold and it was reading a steady 20" HG which seems within spec.
I haven't done a compression test since last summer but the car only has about 500 more miles on it and last summer the compression numbers were looking great (160 for all but 2 cylinders and they had 150 and 155).
Engine idles smoothly. Changed oil and didn't find anything strange - no coolant leaks, milky or frothy oil. Under valve covers looked shiny, new and clean - no apparently issues.
I'm also getting a bit of an oil leak now from the distributor which pools in a valley on the timing cover. Not much but a little pool after the car has run for a long while.
Are these related? Too much crankcase pressure? If I pull the PCV and put my finger on the end it seems to have great suction.
I'm stumped. Compression numbers and intake vacuum would seem to eliminate wear issues, right? Engine has maybe 2K miles tops on it. I pulled #1 plug and it was nice and grey, dry, etc.