The smell isn't that bad, and is only happen on occasion while driving...I'm not that bad at downshifting so I can't see myself burning my clutch everytime I downshift...I almost never slip my clutch.

There is an oil leak and it looks like it's coming from the pan, but can a Valve cover gasket leak appear to be an oil leak?

If it could be my valve cover, I'm probably going to replace it...is there anything I should know? Is it difficult?

 

Post a link to the smell and I'll have a sniff. Lol.

If the clutch don't slip at full throttle in 5th gear then it's probably fine. Just a quick check.

Yes a valve cover gasket can leak oil and it can run down the side of the motor and drip off the pan just like a pan gasket leak. Easy way to find out what's really leaking is go to a DIY carwash and pressure wash all the crusty old oil off. Then you can see where the leak really is.

I don't remember my 460 enough to remember how the intake looks but if you're talking about your truck with the 302 then then obviously you'll have to remove the upper intake to get to the passenger side valve cover. There is a bolt that is sort of hidden between the runners, just make sure you get that one before you start wondering why the intake won't come off. Other than that it's pretty straightforward.

 

It doesn't slip at full throttle in 5th gear... If the RPM is going up, my speed is going up.

 

If speed clubs with the rpms your clutch is OK. I'll bet you are smelling oil

 

Should I be suspecting an intake manifold/valve cover gasket leak and go ahead and buy them? They can't be too difficult, right?

 

Also, do I need to do the upper and lower intake manifold?

 

If you get under the truck back at tranny and look up you can see the valve covers fairly good and see if they are leaking oil, they almost always leak in the back. If they are once you have upper intake off you can look behind intake and see if it is wet with oil or not to know if you need to do the intake gasket. That's how I would go about it anyways