Lets start with the assumption that your father is/was a good mechanic, and he's offering a possibility. Since he's a good mechanic, this is your chance to learn something from him.

First, get a shop manual for your car... if only so you have specifications. Then have your father help you properly diagnose things. Show him this thread.. he'll know what is being discussed, and he'll appreciate that the advice is coming from folks who really know these cars.. Start by confirming that the car is or isn't hitting on all four cylinders. Then the valve adjustment as has been said. Check for valve recession, then compression checks.

A bad valve won't be the cause of your oil burning though... bad valve *guides* could, but good chance you need new rings... basically an engine rebuild. But the wet/dry compression checks will confirm that.

After all diagnostics are complete, you can have good old Dad help you rebuild the engine! It's fun, and it's good to know what makes a car tick when you drive a 40 year old vehicle.

Enjoy!
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-Matt I ♥ my ♂