I always try to create these threads in generalities. I just need to provide more details from the start. This is a fun toy. 1965 Mustang with a 1969 351W that was rebuilt in 2005 with mild cam, ported and polished heads, Eddy intake, etc. Supposed to be around 400hp at the crank.
I think I'm going to stick with the original plan. Pull the distributor and look at the gear. Inspect the valve train and related. Drop the oil pan which is very easy on these cars and look at the rod bearings. I can check engine compression again but this summer (before I started noticing major oil consumption) all cylinders were 120+ psi cold. If nothing obvious comes back from this I'm just going to drive it until it starts making some more noticeable noises or low oil pressure. It's hard for me to say it's bearing when I have no knock or oil pressure issues. I'm really leaning towards the oil consumption being valve guide/seal related since the only smoke I ever notice is on cold start.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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