1.7-4 engine help Options

[FastFroggy]

I ran into a problem last weekend. Finally able to get some highway running last weekend. Unfortunately on a high speed run i suddenly got a plume of oil smoke.

I will be investigating in more detail this coming weekend, but appreciate any recommendation on what to check. I plan to inspect head cover gasket and oil filter & oil.

Here are a few notes I made:
a. I think the smoke started after I lifted off throttle.
b. head cover gasket appears to have failed again ( replaced only 15-30 miles ago)
c. I am running Webber Carbs, header exhaust and unknown 1.7l cam/piston set.
d. Oil pressure was maintained at all times ( Accusump shows 40psi- idle pressure)
e. I have an crankcase breather hose from the OE filler neck to a separator about 6-8inches over the filler to catch-can about height of OE filler neck.
f. I do not like the color of oil on the inner oil cap. ( looks a little milky ). If it was a water-cooled engine I would say head gasket.
g.underneath is coated with oil on driver side.


Thanks