hello i have a 1989 ford h.o. 302 carb'ed(4bbl) with a problem. mods include only factory shorty headers and a set of roller rockers, also an aftermarket aluminum intake. this motor was a backyard rebuild that had been rebuilt ran slightly and sitting for 4 years. i have had the motor down to a long block over the past 11 months and put the headers, accessories, timing cover gaskets and water pump. i have just had the motor running for about a hour at a time (3 times) for the past week. i have started and ran the motor before but this was the first time since its been fully completed with the coolant system and operational. i would get in it and drive today since it sounds and runs so good. my problem is that today i started it and check the dipstick after it had been running for a minute and noticed that the oil was milky and overfilled(about 3 times normal level). i checked the radiator and it was only half way filled. now; for the variables.
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i pulled my radiator cap last night and it was still pressurized (hadent been ran in 3 day before)
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it was also pressurized today after running shortly
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i seem to remember the intake gaskets may be installed upside down(or backwards?)- their is a thin amount of rtv type sealant when installed
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coolant is dark/black
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black colored water dripped out of exhaust after running for a hour(may or may not be condensation or old soot buildup)
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i have no idea about the integrity of the head gaskets besides they look like the are new(er)
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the compression test was done immediately when the engine was still "in the barn" when i got it a year ago and showed this.- no set up was done, simply screwing in the test gauge WITHOUT putting oil in the cylinders
cylinder #
1-180
2-160
3-159
4-158
5-135
6-135
7-150
8-127

i guess my question is weather this is an intake gasket leak or head gasket leak? it might be something else but i am leaning towards head gasket considering the compression test and coolant/oil issues.

i would appreciate some input and opinions on this before i go and start tearing it down again.

 

Was the intake manifold torqued down to spec ?
And checked after running ?

 

intake manifold was torqued to spec after install; although, i had talked to the person today who put the heads on the motor about 4 years ago and confirmed that they reused the old head bolts and DID NOT torque the heads down to spec. i have the motor torn down today already [drivers side only]and i can see marks(water stains) on the cylinder walls that would appear to be coming from the coolant holes and are perpendicular straight to the ground(if that makes sense?) the head gasket also appears to be in less than satisfactory condition although i cannot see any definite failures due to its being so "torn up"; minding this was at night so i will recheck in the morning. the head gasket has an RTV type sealant that is oozing out even in the cylinders; minimally, and appears to be semi-clogging up the coolant holes. piston # 6 and 8 have flakey carbon build up while the other two on the bank look normal; although, this could be from running on bad timing in the beginning. for my first ford motor, this one is putting a bad taste in my mouth, although it appears these problems are coming from an incorrect rebuild by the previous owner, it just seems too easy to mess things up on this type of motor. im trying to have this thing going strong but im leaning towards an inline 6 for "ease of use" since Ive had so many issues with the 302