I replaced the valve seals.
The bolt has about a 1/16" hole in it from the bottom up to just past the end of the threads, where the bolt is a little smaller. The oil goes up through the bottom of the bolt and then after the threads it goes around the ouside of the bolt then thru a small passage in the head to the oil line that oils the rockers. Whoever had rebuilt this engine, at some time, had put this bolt in the middle of the head and not thru where the oil passage is in the head.
I have the front sheet metal off of the truck right now. I'm trying to make a decision on whether or not to spend the $250-300 for a valve job and guides, or is the smoke possibly coming from some stuck oil rings from setting for some months.