Join Date: Sep 2000
Location: Washington, Michigan USA
What color is the smoke? The dipstick-popping problem is indicative of excessive crankcase pressure (the next things that will pop are the front and rear main seals). Sounds like your rings haven't seated, and two things are happening - oil is getting past them into the combustion chamber (causing the smoke), and combustion gases are getting past them in the other direction, causing more pressure than the vent system can handle. Smoke at startup usually results from oil coming down the valve guides due either to 1) Worn valve guides, 2) Missing "O"-rings on the second groove of the valves (early engines) or bad or missing valve stem seals (later engines).
'69 Z28 Fathom Green