Could my hot vacuum leak be bad valve guide seals?

[nhdoc]

I've been chasing what I thought was a vacuum leak on my '64 220Sb to no avail, but now I have a theory that the valve guide seals may be leaking enough to cause the hot-idle problems I have. Is it possible for the seals to be so bad, especially when the engine is hot to cause the car to not idle but stall to do air leaking past the seals? I get lots of smoke when it does restart (with full pedal) but unless I crank up the idle mixture by 1.5-2 turns it will not idle, just dies at idle. If I leave the mixture rich and restart cold it revs like crazy. Would leaky seals cause bad vacuum leaks and get worse when the engine gets fully hot??? I only have like 8-9" of vacuum when the engine is at idle.