PCV system, or blown headgasket?

I'm trying to figure out if it's just excess moisture that didn't get out of the PCV system, or water in the oil. When I drained the oil, it wasn't like chocolate milk, but it was a bit watery, but I was told it was just fuel because the car had been running EXTREMELY rich before this. I was supposed to replace the PCV valve a few months ago, but have been pushing that back not thinking it was a big deal. I have had a few people tell me different things, so I was just wondering what you guys think?
Throw a compression gauge on the cylinders and make sure if they're all within spec.


