Pontiac: Water in oil, quad 4 engine, engine teardown

Question
I have a 1989 Pontiac Grand Am with a Quad 4 engine with 194,000 miles. This car has had a new head and head gasket within the past year. This car has not over-heated. I am getting a slight amount of water in oil. There is no  white smoke coming out of exhaust, no miss, and no loss of power. I was told that this specific car has a oil separater on it that separates the water from the oil. Do these usually go bad and could this be causing my problem. Any help would be appreciated. Thank You.

Answer
If there is such an oil separator thing, I've never heard of it.  I've never heard either that water being in oil is a normal thing, but the Quad 4 maybe be an exception.  You never know, these engineeers come up with the wierdest contraptions sometimes.

Under most normal circumstances on any engine water in oil is a real problem, and can usually be traced to a leaky timing cover gasket, that is if the coolant is routed through there to the water pump.  Some 4 cyls have the pump attached directly to the block so if that is your case ignore the timing cover idea,  but I've had a leaky one once that leaked coolant.
Another one, obviously is the head gasket, but you've replaced that too.
Hmmm... really there aren't too many places where coolant could get into your oil, unless you had a crack in the block somewhere that it doesn't affect your engine performance.

Sorry, I can't really think of too many other ways for the coolant to enter the oil.  From my experience water in there is not normal, so depending on how much it is, if you don't care keep on driving the car, otherwise it might require some major investigation that could involve many hours of labor and engine teardown, that could make it as expensive as rebuilding your engine.  It's really all up to you.  To me it sounds like there's a crack somewhere in the block not vital to engine performance because if the gasket is new (considering it was installed correctly) there should be no problem with that, and if your timing cover provides no coolant flow through to the pump, it really can't be too many things other than the head gasket or block.  I may be missing something someone more experienced might know, but as far as I know I've mentioned the main problem areas when finding coolant leaks.

Hope this helps.