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Im having trouble with my 1980 302 motor with either 21k, 121k 0r 221k (95% sure is 121k. Its comsuming a good deal of oil, and Im not sure where. One clue is that im also getting alot of combustion blow-by, to the point that there sputtering out of the dipstick tube.
What is wrong? Rings? Valve guides? Valve seats? Something else entirely?
Im probably loosing a quart to every 500 miles. Im sure the leak in my booster isnt helping with the sputtering out of the dipstick tube, but I cant imagine its connected to this problem.
Does the motor smoke at all? Are you leaking oil some where other than the dipstick tube? If you are getting the blow by you say you are then yes it can cause it to come out the dip stick tube but the motor would run like crap. Thats alot of blow by...
You should do a leak down test and find out where exactly you need to start working. BUT since these motors are easy and cheap I would just rebuild it anyway.