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Take your oil tank cap off while engine is running. Do it cold, warm and normal operating temp. See a lot of vapor coming out?
Pull plugs and look for oil spotting or worse on center electrode.
Compression and leak down if possible.
If above is good and it runs well try a diesel oil like rotella or Delvac 15w40 as they have more detergent than regular oil and might (a big might here) help free up oil control rings. Won't help with valve guide wear. You can buy a lot of oil vs cost of rebuild.
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Jeff
74 911, #3
I do not disbelieve in anything. I start from the premise that everything is true until proved false. Everything is possible.
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