burning oil

If the carb. is jetted right it don't matter what size the carb is it will only supply as much fuel as the engine pulls through it. Carbs don't dump gas other than the accelerator pump and that's a fairly small shot unless it's a double pumper. The engine pulls it from the carb. via vacuum. I highly doubt the carb. is your problem.

Have you ran it much since you put it back together? If not maybe the mufflers are just gummed up with oil from the previous problem. I had that happen on a 70 Chevelle when I was a kid. It had a 327 with a broken piston and was pumping oil into the exhaust system and I ran it that way for about a week cause I had to get to work. I then put in a new 350 and even though the new 350 was fine it still smoked terrible for the first 2-3 days because the whole exhaust system was full of oil. Finally burned out in about a week and quit smoking.

If it don't quit smoking after running it for a few days it has to be a ring problem.