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Well I am a new owner of a 83 F100 4.9 300. A vehicle I chose to by after multiply visits to this forum. I have light moisture coming out of my breather tube, oil tube, exhaust, no bubbles in radiator just kept spilling over when watching. Engine sounds pretty strong drives strong did notice engine temp never gets to high and on initial drive home temp went down to nothing. The kicker is 3 head bolts close to carb are bubbling and light bubling under exposed gasket on other side. Please advise. A full gasket set cheap but do I need it or do you think I should check bolt torque. Thank you for all yalls help. Very excited about this truck and bringing her back to her glory......oh side note speedometer registers 10 less then going. I thought I was going 65 home was going 75. Wife was shocked I was driving so fast. Thanks
Sounds like a head gasket problem so maybe a leak-down test is in order to verify. There's others that know more about the 300 than me and hopefully will give you more info.
For the gaskets, you could get away with just a top end set, and save a few bucks.
Will when I can father of 5 kids. Time is short. Tore it down to head. was very slight leak. Hardly any compression loss. But physical issues. Gonna get head machined, paint a few things then Ill post a pic.