spitting oil

I have 28 year old 302 that I was thinking about building up but after some research, I've learned that it's about the worst 302 to try to get any horse power out of so I decided to sell it and the F150 that it's in. The only problem is that the other day, I was driving around and it started to act like it was starving for fuel. It was sputtering and trying to die as I hit the gas and I could only get the truck up to about 45 mph. When I got home, I pulled the air cleaner and it was full of oil and the crank filter was soaked. The truck had been using oil but never this bad and it's an all-of-the-sudden thing and it's getting worse. Any ideas out there?

stuck pcv valve?

When I unplugged it, it was engaging and disengaging. Maybe a bad vacuum line?

Likely excess blowby, but it may be as simple as your PCV system. By "engaging/disengaging" do you mean the valve rattles freely when you shake it or something else?
Also, I am curious why you say a 28 year old 302 is not a candidate for more power. That's a 1983, right? Is it a roller cam engine? If yes, why is it "bad" for upgrade?

Oops, bad math. It's an 82 and from what I've read on this board, it's the worst casting along with some other issues. The pcv valve does rattle freely when I shake it but I got a new one last night anyway along with a new coil. When I got home and tried start it after the new pcv valve, I wasn't getting any fire. After the new coil, wires and plugs, I'm still not getting very weak fire. So now there's a new problem and I can't even tell if the new valve is doing any good.

Don't know much about Ford engines, but I also have a 302 that is
old. I took it out of an old ford trk 23 yrs ago, and it is just sitting
in my barn..It had good power when it was in the pkup..I have seen
some bad A$$ 302 ford engines, so I would rethink the power potential.

Yep, I think some of the 5.0 Mustangs running around might not quite agree with there being any problem getting power out of them.:eek::D

With that much oil in your carb and air cleaner, I am betting on severe blowby. Could be sucking oil down the valve guides or through the rings. Do a compression and leakdown test to start.

Don