PCV Questions

I guess this will prove that I know just enough to be dangerous..........

About a year ago, I put Edelbrock valve covers on my stock 1965 273 V8. The old PCV didn't work on the new covers, so I bought a new one that did. The old oil breather cap didn't work either, but I didn't buy a new one. Instead (like an idiot), I bought a plain old oil fill cap (no breather).

I'm not really sure how many miles I've driven the car since changing the valve covers, but it's gotta be betweeen 500 to 1000. On the way home recently, the oil light came on, and I could see a little bit of white smoke in the rear view mirror. When I got home (about 5 minutes later), quite a bit of the rear end of the old 'cuda was oily........ I was pretty upset, and not thinking real clearly..... but I seem to remember that there was oil dripping from each tailpipe.

I told a mechanic buddy my sad story..... that the engine (which only has about 6000 miles on it since being rebuilt) wasn't running poorly during the incident, and that I coudn't believe anything inside of it (like a ring - or valve seat) would have broken.

He said if the oil was truly coming through BOTH tailpipes, it might be something simple - like a bad PCV.

Well, here's where I am now. I bought a new PCV, and a new breather cap...... put three quarts of oil in the car, and took to the road. The engine ran great, and after it thoroughly warmed up (and was at idle), I held a folded towel a few inches from both exhaust pipes - and there's no oil coming out of them.

Is it possible that the oil I lost was getting from the valves to the tailpipes? And has the new PCV & breather cap fixed that situation?

Or have I ruined a gasket, or a seal somewhere on the block?