It IS fuel that filled up the crankcase. Smells like it, it mixes well with oil and the radiator is full of water (didn't all drain into the crankcase).

If it was not open injector lines dripping into the open injector holes over past few weeks, then it must be the rebuilt injectors over fueling, correct?

I did notice a lot of smoke when I first started it, but thought it was just from sitting. But then, I guess it didn't taper off like normal.

Other than draining the crankcase and trying new/different injectors, any suggestions?

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1986 300 SDL, gray on black, #14 head, 180K miles
1982 300 CD, silver on palomino, 290K+ miles [sold]
1980 300 SD, white on palomino, 500K+ miles when retired [uncle's car - inspiration for the above]