Originally Posted by Achipmunk
OOOOOK, take it easy step by step. I think its established that the compression will not be at its max until the rings are properly seated.
Its my belief that to much oil could possibly cause some foaining but considering the crank rotation and size of the pan I do not believe the engine is hurt.

I would add that the plugs, once fouled, "may" not operate as they normally would.

Going by your first post I'd like to suggest the correct amount of oil, new set of plugs and since you messed with the points I'd put in a new set, properly gapped and give it a spin. I would not mess with the valves at this point. (It ran fine to begin with.)

Be careful with pouring gas down the carb. "back in the day" when I worked at a chevy dealer I say a mehanic pour so much gas, and starting fluid,in an engine that it "washed" the cylinders wall clean and the engine locked up. It don't take much "fuel" if things are right.
Please let us know what you do/find.

I did change and put the correct amount of oil in there. So currently the dip stick is happy and there are 5 quarts. As for the plugs and points I will take your advice. Because, I need a break, I am going to wait until early next week before doing anything. At that time I will change plugs and points.

I am curious about the points though, I mean all I did was take a coupe of passes with 220 grit sandpaper. Why would that cause a problem? My thought at the time was I was not running the resistor, so I thought the potential, for burning was real. Today I did order the reistor, and I will have two wires going to the +side of the coil, one directly connected to the trigger of the starter and the other through the resistor and then to the battery.