UPDATE
I did not drive the 50 Chevy much in '07. Maybe 200 miles. I did overhaul the front axle: new king pins and bushings, tie rod ends and repaired drag link/connecting rod. New shocks all around and new rear tires. Drives tight and straight!

This spring I replaced the oil pan gasket, oil filter and oil filter hoses. Just got it back together a few weeks ago. This stopped 95% of my oil leaks. I finally got around to doing a compression check a couple of nights ago:
1 125
2 130
3 132
4 135
5 125
6 120
These were cold, dry checks. Not bad! 216 runs really well, responsive with lots of pep, power and acceleration. But it still uses too much oil - about 1 quart in 50 miles.

I do not see any smoke in the mirror. I guess I need someone to follow me and look for it. Sitting I can rev up the motor and get some smoke but its more black than blue. The plugs are pretty carboned up. Any insight?? Thanks.