Milkshake oil and too much blowby.

[Rocknpalms]

As many of you know I just bought a new boat with stock MarinePower 454 with only 76 hours on boat and motor. The boat had decent numbers for a 20' 330hp. It ran 54 gps and 4500 rpm. That is with two adults, two children and 20 gallons of fuel. Oh ya 15 pounds of jackets, and blankets. Lake Elsinore was very cold today.
It been a while since I owned a boat with OT headers. It didnt even dawn on me that water spraying and pooring out of the headers at idle was wrong. I even idled around for about 10 minutes before heading out. Next I noticed alot of blowby. I realize now this was steam. I did turn down the water valve comming from the pump to the engine a bit to warm up the engine. Boat now runs at around 120 up from 105.
Here is my concern. at the end of aproximately 35 minutes of running I had allot of oil comming out of both the valve cover blowbys. More out of the passenger side (even though it is forward and the drivers side blowby is rearward). Enough oil to run down the block and puddle along the intake.
I sure hope all this blowby and oil spitting out was from the oil in the water. Has any one else had a blowby problem along with the milkshakes?? or is there an other problem lurking in the engine?
One more question I just bought some "Lightning" tru-transom jacketed headers will install them next week. The t valve comes out now correct????

[sleekcrafter]

Yes the tee valve does come out.
The pluming of the cooling system changes a bit, you probly wil need to do away with the water gate valve, to keep enough water flowing out the exhaust, and or run a pressure bypass, to help maintain engine temps and reduce the pump pressure to somthing the engine likes.
On the blow by, there are different ways to deal with oils coming out of the valve covers, run a PCV, better breathers, run a hose from the breathers a up to you flame arrester. Running certain types of breather can, be a messy deal, they can't seperate the air/oil fast enough, or they just plain leak. The fact you have got water in the oil, may be aggervating the problem too, causing the oil to foam. There are many solutions, and many opinions on all of this, chose what works best for you. Good luck, Sleek

[1slowboat]

run a compresion test on the cylinders, sounds like a burnt up piston, maybe a cracked head too,( on passenger side) .02 :220v: run a compressin test just to be sure, if you have a cyl, with low preasure do a leak down test also
sleekcrafter is also right on his post too