When I take out the spark plugs, I have a lot of oil all over the threads of the plug and the electrode is all carboned up. This is on a BB. I don't see blue smoke from the exhaust but I do have oil consumption. I have the PCV valve hooked up and the carbon filter canister. Any ideas?

1972 Chevelle 396 with 1968 oval port heads and intake.

Probably oil getting either past the valve stem seals (might install a valve cover breather, this will help during times of deceleration which produces pressure that can force oil down the valve stems), or seeping past the piston oil seal (bottom piston ring). Check your compression to see if its up to spec.