I just bought a 68 Camaro that has a built 350 with dome pistons, dart heads etc. a lot of good parts in the motor, but has some condensation what causes this is it from the high compression.

Wayne,
Where are you seeing the condensation ? In the oil fill cap, or on the dip stick ? Is the oil "milky" ?
I could just be from a lot of short trip driving without letting the entire engine get up to operating temperature long enough to get rid of the moisture in the oil.
I would drain the oil first, if it is "full" of water, you have a problem and need to look further. If the oil looks ok, with just a few "streaks" of condensation, take it out for a good drive for an hour or so and see what happens.
Hope this helps,