If it was a modulator, it would smoke all the time.
Sounds like valve guide seals to me. And you have the right tools.
If you don't make mistakes. your not doing anything.
69 ss rs full custom camaro 98 ISCA grandchampion
69 ss rs bb camaro wifes driver
66 Elcamino 350/all dz parts,ac,windows,loaded,my driver
69 ss chevelle bb conv.fresh frame off
26 T sedan street rod