Hate to dig up an old thread but along with the colder evening temps I've noticed this same milky deposit on my oil fill cap. I pulled the valve cover tonight and noticed a coating of it around the fill hole. Oddly it's just around the fill hole.
A search brought me to this thread.....
My 1st thought was condensation and it's looking like thats what it is. It wasn't anywhere else in the head or valve cover and theres none present on the dip stick. I haven't had to add any coolant since i put it back together..
I didn't notice this until the weather turned cooler. My rear main leaks so I'm adding alittle oil regularly...
The engine is a 49 216 w/a 160 thermostat. I generally run it for an hr at a time and the temp never reaches 180. I guesstimate it reaches perhaps 170.
I'm now wondering if I should go to a 180.
Has a 180 done away w/the condensation with those of you in this thread w/similar symptoms?

One additional question. I'm thinking of going to a vented oil fill cap and plugging the 3 vent slots in the valve cover to try and minimize the oily film that accumilates on the valve cover, is this the venting setup on the 235's?

Dave