Jones, I am having the same problem. I have a 1957 235 in my 49 Chevy truck. Hotrod lincoln told me exactly what to do, but I just haven't had the time to tear into it yet. Like your engine, mine only has about 300 miles on it too. It only drips oil if I drive it about 10 miles. If I just drive it around the subdivision, it don't leak. I am curious to know what you find out.
KT
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49 Chevy Truck
