Most likely, the valve guides are beyond worn out. Oil goes out the exhaust, but the exhaust isn't hot enough to burn it off, hence no smoke. The life of a 350 in that heavy of a truck is pretty short. Even the 366 and 427 were short lived in those trucks. My dad drove for a fleet that used gas C60 366 trucks in the 70's. He said if they got 60K out of the engine, it had lived a good life.
You just need to break down and just put an engine in that truck. With the non-foulers on the spark plugs, I'm surprised it has enough power to keep itself running, much less pull that truck. 350 long block is cheap as far as reman engines go.
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Today's Featured Article - Product Review: JB Weld - by Staff. JB Weld is basically an epoxy glue that does an exceptionally good job of bonding to cast iron and steel along with several other materials. As I mentioned, it is so common that I have yet to buy a tractor that did not have JB Weld used somewhere. It is sometimes used so well you can't tell its there and other times used as a sloppy quick fix. Finding where and how it can be used correctly is key to whether you are using it as an "inelegant hack" or an integral solution to difficult and expens
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