re-read your post, it was flooding out a lot before i bought it. that's what i believe was the source of the fuel diluted oil
Im pretty sure its not coolant as it doesn't have the trademark sweet smell. it smells like oil smoke and i think its burning a lot of oil, im going to double check the dipstick tomorrow morning (about 3 minutes after shutoff it was reading down 1/2 a qt from before i started it 2 days ago) im going to the junkyard tomorrow to nab a fan, pulsation damper and possibly the MOP as well. im thinking mine might be stuck wide open
btw, here's a vid of the smoke im talking about. its a cell phone vid (on dialup ATM) and i don't know why there's no sound, but it was idling at a good 750-800 and timing was bang on (i reset it and the idle)