Back in April when I went to do my desmog, I pulled my valve cover for the first time since owning the truck and there was a lot of white goop underneath the cover. (I'll post some pictures tonight when I back in front of my cell phone). I cleaned up the cover, replaced the PCV which was toast, replaced the valve cover gasket, and oil filler cap. However, the oil on the dipstick has always looked good with no sign of milky oil and no white smoke out the tail pipe. To rule out oil cooler cross contamination, I bypassed it and ended up in the process replacing most of the rubber coolant lines and flushing the radiator which took me most of the summer. As such, the coolant level has been inconsistent but I think that mostly has to do with me running down various leaks while I replaced hoses. So I have been struggling to tell the difference between the cooling system burping itself and possibly burning coolant. That's why I did the compression test to rule out a head gasket problem - also the plugs did not look like they have been steamcleaned. FYI - I am in a '91 so I have the 3FE.
Edit: I also did the radiator gas test with the blue liquid twice and it came back negative both times.