Okay, let's take this step by step.
If you have enough gas in the oil to be pushing fluid out of the dipstick, it ain't because of a piston ring. You'll know soon enough anyway, since you're tearing the engine down, and can see for yourself.
It's an LA motor, since
A.) There are heat crossover passages in your heads. Magnums didn't have heat crossovers.
B.) You've got TBI. Magnums never had TBI, they had multi-point injection. More on this later.
Yeah, that's a factory TBI. Mopar used a Holley-manufactured throttle body. The giveaway would be if you've got a 2 bbl. cast iron manifold, and a controller that looks like this:
View attachment 1716010294
The excessive fuel problem could be due to several things, none of which are piston ring related.
A blocked or kinked return line can cause excessive fuel pressure, loading up the cylinders with fuel, as can a defective or shorted injector coil. Lots of sensor issues with the old factory "speed density" systems that can also cause an over-rich condition (as opposed to other "mass airflow" systems).
But most likely, from what I see in your picture, is that the factory roller cam has been replaced with a flat-tappet cam of unknown specs, which completely confused the computer.
If you're going to rebuild it and re-use the TBI, you'll need to go back to a factory-spec cam, since the factory controllers have very little tolerance for any modifications, and there are very few, if any, people left that can or are willing to re-flash the factory computer.
