I have a 1955.1 with 235 and pvc system as described above. It is a factory installed unit and the valve cover is routed to the air cleaner. I checked the pvc valve and found it was missing the spring. I located another valve on eBay and as it was 40 plus years old it took me a while to get it open. It has a spring so I placed it in my pvc valve. I was getting some smoke out the exhaust and checked the compression on all cylinders and they came to 120 constantly. So I figure rings are good but still get smoke when decelerating and some at idle. When accelerating there seems to be no smoke. Not sure what could be causing this issue.
Any thoughts would be helpful.