I really shouldn't dig into stuff because it usually results in trouble. I just finished modifying my fuel line according to instructions on this site, when I noticed a trail of oil originating at the top front of my valve cover where the canister (has hose running to top hat on carb) enters the valve cover. Crud. Pulled the PCV valve from the cover (end closest to firewall), shook it (it rattled o.k.), but was pretty full of oil. The canister on the front of the valve cover appeared to be pretty gunked up so I pulled it and prsently it is soaking. Hopefully with both the PCV and cannister cleaned out, the dang oil will no longer take a shortcut down the side of my valve cover.

The "front canister" on your valve cover is in fact your oil cap. The "top hat on the carb" is in fact your air cleaner. The whole PCV system includes the oil cap, the PCV valve, the PCV valve's rubber grommet into the valve cover, the hose running from the air cleaner to the oil cap, and the hose running from the PCV valve to the carburetor.

Cleaning the oil cap is scheduled maintenance that usually gets ignored. Supposed to be done every oil change, but most people just do it every 30 years or so whether it needs it or not. Likewise, the PCV valve is not a permanent item and should be replaced periodically. Both hoses need to be clear (not clogged) and intact (not broken, cracked or holed), and the passages out of the oil cap, into the air cleaner and into/through the carburetor need to be clear (not clogged). The PCV valve grommet needs to be intact and lively (not cracked or hardened). Start the engine and pull the PCV valve out of its grommet. Put your finger over the end of the valve. If you do not immediately feel strong suction, there is blockage that needs to be cleared.

If I remember correctly, you've got a service manual on the way. You'll also want the other two books mentioned in this post.

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一期一会
Too many people who were born on third base actually believe they've hit a triple.

Dan: All 3 books are on order and hopefully will be here soon. After reading your post carefully, the only area I was not able to address this afternoon was the grommet that the PCV is inserted into on the valve cover. Mine is like concrete, not pliable at all. Another part needed I guess.