Classic/Antique Car Repair: smokey exhaust follow up, blown head gasket, ford falcon


Question
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Followup To
Question -
I currently own a 1971 Ford Falcon australian made muscle car with a 302 v8 in it, and recently replaced the heads due to suspected cracked heads. Although the heads have been replaced along with all gaskets etc. there still seems to be a greyish smoke coming out of the exhaust. There doesnt seem to be too much smoke when starting it up, but if left to idle, or reved a little, the smoke seems to thicken up a fair amount. I was told that this may be due to the engines age and therefore being full of crap. Could this be the problem, or do i have a bigger problem?
Answer -
Hi;
 Joe sorry to take so long , my comp. was messing up. If you put new heads on  you touqred them right? The valve seals on the heads could be bad, and if the engine is old it could be just that , old , rings, etc. take a compression test and see what you have in each cyld,. it can give you a idea of what you have .ok

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Hi again,

Sorry to annoy you again but i did some compression tests (and yes torqued the heads) and they showed about an average of about 8.5 bar, so about 1 bar below top pressure i think. It turns out it is only burning water, and the oil is still very milky even though it has been changed, possibly due to previous blown head gasket. Would you say this still point towards screwed rings etc. , water still sitting in the engine, or something else? Any advice on the next step would be very helpful.

Thanx.

Answer
 Hi;
      Joe if you have any water in the oil you have something wrong someplace, if you have a lot of miles on the engine I would re-build it before you cause any serious damage to it.Or you can change the oil and filter and see what happens and if you still have any water in the oil, etc. re-build it or re-place it. ok