Hi Stanley
Thanks for the response.That is why I can't figure it out.There is no oil in the water.The car is not smoking or using any oil.It is just down on power and breathing heavily through the oil filler hole.Do you think a dead plug could cause this as it is definitely not running on all cylinders.I'm just wondering if a dead plug could cause so much cranc case vapours?
Sounds like you have possibly two issues here, lack of compression and misfiring.
Cannot see how a dead plug could cause lack of compression, no connection to crankcase.
But I'd start with a compression test on all cylinders. Don't forget to do the oil test to see if lack of compression is down to leaking piston rings or leaking valves.
To find a dead plug, get it running and short them out, or disconnect them, with insulated pliers! one by one, if there is a dead plug it'll show by being the one that DOESN't make the running worse, although always harder to tell with a V8.
Not running properly on all or any cylinders can be caused by a lack of spark, a lack of fuel to the cylinder, or it not holding compression due to a valve fault or a ring fault. Or Oiling up so badly that the plug cannot fire properly.
Pull all the plugs and compare them, if they are all the same colour that narrows it down a bit.
Check all rocker clearances to see if there is an issue with a lifter, could be a worn cam lobe which V8s are prone to. To see that use a Dial Test Indicator to see if all push rods are lifting as much as they should.
Check to see all inlet manifolds are tight to the head and not leaking. With the engine running, spray with EasyStart or somesuch. If the engine perks up, you've got a leak.
Have a go at this then get back to us. Don't forget, lack of water in the oil or oil in the water does not necessarily mean you do not have a gasket problem. There could be a break between cylinders that touches neither oilway nor waterway.