327 running hot

Hi all
First i would like to ask if you can bore a 1962 chevy 327 .030 over? I was just told by a guy i work with that you cant because of the casting and not enough material the cylinders could crack. the machine shop that did my block said they bored my block .030 over to provide perfectly round cylinders.

Now here is my problem "WATER IN THE OIL" i have already tore down the top end and checked all that i could, replaced the head and intake gaskets with all edelbrock sets (have edelbrock heads and intake) and the motor runs good except for a slowly steady rise in tempature and a small amount of water in the oil when i first crack the drain plug i can fill a spray can cap halph the way before oil starts coming out, how can i check for a cracked block without taring down again?

P.S. sorry for the spelling.....

You can do a compression test. If you have a crack block it would usually show very low compression between two adjacent cylinders. Another thing that would cause a crack is overheating which will cause the head to contract, but this usually will cause the head gasket to fail. Is you oil white or cholate color? Did you put the head gasket on and maybe it moved? Do a compression test first.

the oil is kinda funny it has about 15 minites on a fresh 5 1/2 quarts adn i drained it, the color is kinda dirty then clears up as it finishes draining, not white (milky). no white smoke while running, no white specs on spark plugs. but runs hot after 10 minutes, and i get quite a few drops of coolant out of the drain plug and the oil is watery