Yes, excess crankcase pressure can cause oil consumption, and main seal leaks, and blowing out the dipstick or anywhere else it can find it's way out.
Since finding the vent plugged, I think I would just set the valve lash, put it back together and see what happens.
Symptom of bad valve guides is blue smoke on start up that clears out once up and running.
Symptom of bad oil rings is blue smoke under load.
Symptom of bad compression rings is excess blow-by, puffing smoke and oil mist out the vent tube, worse under load.
Now that the vent is clear, and you get it up and running, watch what symptoms you see, then make your decision.
One thing to watch, if you do pull the head, don't turn the engine with the head off until you secure the sleeves down with a couple of bolts and flat washers. They just sit in the block with an oring seal on the bottom. If allowed to move, the seal will be broken, sediment from the water jacket will get under the sleeves, and they will have to come out and be resealed. Major job!
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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