starkweatherr,

The top end is common with the lower end through holes in the lifter area. The smoke coming out the top and out the tailpipe sure indicates a real bad cylinder, broken piston or blown head gasket.

Is it more steam than smoke. Does it dissipate like steam or trail away like smoke.

A compression test would give you instant insight into this mystery.

I must say I have never seen valve cover vents like that either.

Stuart