[vectorit]

Welcome!, and a neighbor to boot - I am South of you in the Temecula area.

Have you made sure that the PCV is clean, and free of any obstructions? The PCV valve should have a rattle to it when shaken, if not buy a new one or use carb cleaner to clean it up.

Does the motor have high mileage? or was it rebuilt before stored? Why did you adjust the valves?

Worst case scenario:
Your blow by could be that you have excessive wear on the piston rings, or because it was sitting for so long that one may have frozen to the piston(s).

If you haven't done so already, I would pop all of the spark plugs and spray a lot of penetrating oil into each hole and let sit for a while (a day or two).

Then after the oil has had a day or two to sit, turn the motor over with out the plugs to push out the oil to avoid damage. I myself would repeat this for another day or so, and spin the motor with out the plugs again.

Hopefully you can get the rings to loosen up, so that they can get a better seal on the cylinder walls.

If the motor is fresh, than the rings have yet to seat completely.
Or, it could be that the cylinder prep/rings/piston combination is wrong?

Just a few thoughts...