Engine/Sparkplug Question

[soule64]

New guy here, so please bear with me on my question. I did do numerous searches within the site and got some relevent information, but a second or third opinion never hurts. I have started the tear down of my 68 SWB. I am to the point where I have to make a decision on what to do about the motor (350 - rebuilt by the PO back in '99 - I have the receipt for the work). When I bought the truck, the PO said that he fouled the plugs every couple of months, but I really wasn't concerned because I had intentions of putting in a crate motor from the start. I drove it back from Nashville and it's been parked since. Lately I have been tossing around the idea of putting on one of the Edelbrock top end kits rather than going with the crate engine because it really does run pretty good - it starts with just a bump of the key every time. Tonight I pulled all of the plugs (AC R45s) and did a dry compression test (WOT and around 4 turns on the motor). Every cylinder had nearly identical readings - between 120 and 130psi, but all of the plugs were jet black, shiney, some with noticable build up of carbon and some with wet oil on the threads . Not real sure if it is burning oil or way too rich on the gas or both. So, my question is this - should I consider this motor a candidate for surgury with the top end kit or write it off and transplant it with a crate? (I'm thinking ZZ4) I am not in a big hurry to get this truck done, but I want it done right - I have no intentions of rebuilding the shortblock if that is necessary. Not going to be a daily driver but I want to be able to if necessary and when I step on the gas, I want it to run. I am going to attempt to enclose a photo of the plugs. Thanks in advance for any help or opinions you can provide. Wow, I just previewed and the picture is huge. Sorry about that...