1984 Ford F150 leaking oil from oil dipstick, oil pressure low
I recently replaced the valve cover gaskets on my truck to stop it from leaking oil (they have), I still see white smoke from behind if I go over 40mph, and it smells like burning oil. Most of the oil seems to be coming from the oil dipstick. Is that blow-by (Compression is 135-145 for all cylinders) or does the PCV system need to be replaced? Also the oil pressure drops when the engine warms up (Ex. 60psi at 45mph when cold, 25-30psi when hot)(40psi at idle when cold, 10psi when warm). Is that the oil pump? Or the camshaft bearings? The engine is a Ford 302 V8.