Ya, I was thinking the same thing. unless it is leaking out the head gasket, there may be something else wrong. This is a 305cid block, it hasn't been bored, at least not since I owned it, and I have had it for about 6 years. The last owner I think just had a cam and intake put on, but nothing else, maybe rings and bearing, but that may be pushing it. It looked to clean to be untoched for an 1980, but not clean enough to be completley rebuilt. I am going to try touquing the heads and new plugs.
I am going to get the block from my father and have it cleaned uo and bored out. I want to get a 383cid kit for it.
I was planing on doing that from the begining, but I wanted to drive it this year with this motor in it so I could take my time and do the 383 right.
Well thanks guys, anything else I should look for to get this thing to stop smoking?