High vacuum smoke (decel) is almost always a problem with sucking oil past the guide.
- Pull the v/c and check all four returns first. If the heads are filling up, its hard for a seal to manage it
- Check what kind of valve seal is in the Edelbrock head, I never saw a head right from Edelbrock, but if its a Teflon seal, they die all the time, and 20K is a lot to ask from a Teflon seal.
- See if you have any movement at any of the valves, like a broken or very loose guide
It could also be the intake leaking, but if its smoking a ton and only on decel, I wouldnt think so.
I would say its top of the motor though, not rotating assembly, and maybe as easy as a valve seal change.
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- 70 Fastback Mustang, 489 cid FE, TKO-600 5 speed, 3.70 9 inch
- 71 F100 shortbed 4x4, 397 cid FE, headers, Street Dominator, 280H, 5 lug Dana 60, 4 speed