The smoke show you're getting is from worn valve guide seals. My b20f and my b20b had this problem. Your compression readings are definitely a bit low. My b20f haad 140 140 120 120 when I checked it last, and that should be a lower compression motor. Of course, which cam you're using and how you've got your lash set makes a difference too, but I'd say those are definitely low. My b20b had lots of blowby too... I need to check the compression again to see where it's at when compared to my last readings of 180 180 180 165. It probably is lower than that now, and with the amount of blowby, probably needs new rings as well. I know for sure it needs a valve job... If you're getting headaches when the window isn't down, then yeah, not so good. Are you running a closed crankcase setup then? You mention the EGR? So you have the oil cap going to something and the breather box going to something right? Neither are going to just the air? I used to have an open setup with a tiny airfilter type thing, and switched to a closed setup and I can breathe a little fresher inside the car, it's nice! Your EGR system and nipples and fittings and what not might need a cleaning though. Any blockage would help out the oil coming out of the dipstick. I don't *think* I have that problem. Anywho, hope some of this you didn't already know and I hope some of it helps! Good luck!
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Kyle - VP of OVT Membership - www.OVTuners.org Portland/Corvallis, OR - 1968 142 - current setup: 71b20b SUs, m40, bigger list available upon request... ;)