My '88 N/A 740 has been losing considerable amounts of oil the last couple of weeks. It appeared to me that it was gurgling up the top of the valve cover and out from around the oil filler cap, and was then dripping down onto the surrounding engine surfaces, including the exhaust manifold, where it would burn and make its characteristic odor. I assumed that it would be easy to fix the problem by just replacing the rubber gasket on the oil filler cap, and to be on the safe side I went ahead and just got a whole new cap, but that hasn't solved the problem. If I wash the engine down completely, then go drive around for 20 or 30 miles and pop the hood, I get that familiar smell of burning oil again and moist looking patches of oil triling down from the filler cap and over the valve cover. Why I am I having such a hard time making the oil filler cap form a tight seal? Is there something wrong with the mating surface on the neck of the valve cover itself? Is this a common problem? Are there any other sources of oil leaks nearby that might be fooling me into thinking that the filler cap is the problem? I suppose it's simple and cheap enough to replace the valve cover gasket or even the whole valve cover itself that it might be worth trying just for the heck of it. Let me know what you think.