The symptoms I'm experiencing suggested everything from blowby to a bad head gasket.... but I'm not convinced either way.

I had a TR224 and TEA Stage II heads installed about a year ago (car doesn't see much action so I've only put maybe 5k miles on it since)

As of the last couple of months I've noticed more and more oil smoke coming out the back, sometimes to the extent where it builds up on the rear bumper and is difficult to remove.

I just recently did the PCV mod with the new valley cover and it appears as though the problem still persists but then again I've only put maybe 25-30 miles on it since, could it still be residual? I'd think if the PCV mod fixed it, the problem would go away almost immediately...?

I also have some condensation in my oil. When I drive the car it's usually has enough time to heat up to standard operating temperature, but every time I pop the oil fill cap there is water droplets all over the underside.

I'm losing my head over this.... any one have any advice?

 

Change your oil, whats it look like?
Compression and leakdown tests?

 

Oil looks fine, compression/leakdown tests were my next step...

 

definitely perform the leakdown test

 

yep leakdown.