Joe(anips) is right aboot the rocker arms pulling the valve off-center, especially on older, higher mileage engines...just the nature of the beast with regular rocker arms, tho...
Closing the plug gap up will not help with the oil fouling...it will most likely make it worse. If you close the gap a bit, and it seems to run better, then you prolly have a bad plug wire, or dist. cap terminal for that cylinder. The compression readings are fine, but a leak-down might point to rings that aren't sealing well in a particular cylinder...

I put about 120 miles on this thing today...no problem with missing or anything, I think I'll leave everything set where it is for now. I'll keep my eye on oil consumption and probably when the weather gets bad I'll put some new valve seals in. What would be the up side of putting on roller rockers on at the same time. What are the benefits? 

because the the roller tip rolls over the tip of the valve stem instead of drag you get less guide wear, you don't have to buy the hi $ full roller ones unless you want to, I run Comp Cams roller tipped  rocker ball and nut type, they work fine for about $140 a set on a street engine.  anips2009-09-07 17:56:35