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I just bought a 1982 F250 with a 351M engine. I knew it had one of the two problems when I bought it, but not the other. I paid $400, so really don't care too much.
Anyway - it has so much blowby that it's coming out the filler vent. The PCV is working. Also, at idle the oil pressure light comes on very slightly. It goes off as soon as the throttle is blipped.
Between that and the rust I found underneath, I'm thinking I'll just keep it as a junk hauler like I intended, but I'd like to hear if the engine really is that tired. What do you guys think?
If you're sure the pcv is working, you could do a compression check to see what state the cylinders are in. I suppose it's possible to have so much blowby that happens, especially when you consider it's a 25 year old engine with who knows how many miles. If it's that worn out, the oil pressure could be low enough at idle to set the light off, but once you give it some rpm could build enough pressure to keep the light off (although probably nowhere near as much as you'd want). Probably the only way to fix all those problems would be a total rebuild, but if you're just keeping it as a junker...might as well just drive it until it dies.
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