It could be burning the lost oil in the combustion chamber. How much fuel did it burn in that same time? If you dumped two quarts of oil into that amount of fuel you probably would not see any change in the exhaust. How much blow by is there past the piston rings? If the PCV system is working, high blow by could all be pulled into the intake and burned with little smoke out the exhaust. Worn valve guides usually shows up as a puff of blue smoke at startup.
A leak down test could pinpoint the problem or reveal if all of the engine is worn.
The big question now is will you use a 50 year old truck enough in the future to justify an overhaul or a re-manufactured short block?
Dumb question: Would new valve seals over worn intake valve guides starve the valves guides of lubrication and accelerate guide wear even more?
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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