Hey Folks:
Sorry this is long.
Looking for some ideas on an oil burning problem. Took my 67 390 out of 5 month storage in March and unlike years past I hadn't started it during that time. Previous storage I could get in there once a month and run it. So cranked it for awhile without spark put some gas in the carb and fresh gas in the tank, started up and it ran as usual. But after a few minutes I noticed white smoke coming out of the passenger side tail pipe. I have separate mufflers no transverse but a crossover. Within a few more minutes lots of smoke and oil droplets coming out of the tail pipe, no sweet smell. Since it was idling smooth and temperature was normal I drove about 10 miles home and from the rear view mirror it kept smoking. Got on it slightly once and it looked like a James Bond smokescreen. Thinking it might be head gasket I kept it running opened the radiator cap watched for any bubbles no bubbles. The coolant was normal color and at the level it usually is. Let it sit for awhile and checked the oil it was down about half quart. Drained the oil looking for anything milky but it was normal. After the new oil started it up and no smoke, not even an initial cloud. But after about a minute and half then it smoked away. Put in an new NOS PCV valve, disconnected the modulator vacuum line, pressure check the coolant system. Took out the plugs on that side and #3 had wet oil on the insulator the other three were dry. Ok valve seals, replaced the two on #3 and the other intake ones. After 55 years they weren't really bad. No change still about a minute and a half. Compression check next 1-4 159,161,160,158 on the low side but #3 wasn't way off. So I'm at a standstill could it still be the head gasket which usually is a coolant or compression leak. Could it be a worn out or broken oil ring? Any ideas? 47K miles.
Thanks
Jim