its smokin

[doughby82]

when i am hit the gas hard on my 68swb.it will smoke for mile or so.smells like oil burning.it sometimes comes up in the cab.i also notice the oil pressure pegs on high when it does this.it also sits about 3/4's on the gauge during normal driving.i dont know much about this motor.it was suppossly rebuilt before i got it.i just started driving it.it feels real strong.350 4 barrel.i was thinking maybe someone installed a high pressure oil pump and it was spilling out of the dip stick on to the headers.any thoughts ideas?thanks