I've got similar problems, if not quite so bad. My intention is to:

A: give it the marvel mystery oil soak (loosen the carbon on the rings to lessen blow by)

B: rebuild my oil separator in the air box. Anyone got a good thread on this? Every time I search, I wind up finding people mentioning it, but no one describing the process. If there isn't a write up on it, maybe I'll have to do one. We'll see.

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'82 300SD - Somewhere over 220k - Becoming reliable...