The oldsmobile 350 is a good motor and I've owned 2 of them. I used to think the 250 chevy was alright, but I blew a cylinder on one and now I have this one in my truck and it has me frustrated. The externals are no big deal, but I've had internal trouble with this one.
The truck had 48,000 something on it when I got it and now it has 74,861. There is evidence that this is the true mileage and the odometer hasn't turned over yet. It has been setting up over half of it's life and I don't know why. I don't know how the original owner treated it- all I know was when I first changed the valve cover gaskets the head was spotless underneigh. There is evidence that the exhaust manafold gasket has been changed. It's possible that the head had been taken off and rebuilt at one time- maybe to put in hardened valve seats for the unleaded gas that came out since it was built.
All older original engines need this modification because the older valve seats were softer and depended on the lead in the gas for lubrication and would wear if unleaded gas was used. I have another 250 (79 model) and an early 80s 350 that is in a one ton dump truck that I can put in mine. I'd need 3 or 4 days off and some money saved up before I'd want to attemp a swap though.
I've had some good and bad dealings with the small block chevy v8s. Not really anything to brag about except some would hold up better than others and some would run better and some faster than others. Most of the time- by the time I got a vehicle with one in it, it was done worn out.
A fellow I know said he quit driving his truck (305 v8) to work when it started using a quart every 1000 miles. MAN, if I had ever had a chevy engine that used that little measily amount of oil I'd think I had a new engine lol. That little bit of usage or less is what I have mainly experienced in Ford territory, but some of the other brands did almost as well.
This truck I'm driving uses a gallon of oil every week or two depending on how I drive it. It doesn't smoke that I can tell. Now I need to replace the valve cover gasket again and wash the engine, but it's not leaking that bad. Ol truck ought to be a skeeter killing machine for all the oil it's burning, but like I said....no smoke. I'm starting to wonder if this truck is cursed or jinxed and that is why it has sat up most of its life. How much money shall I throw at this supposed money pit....more, more, more, more........it wants attention, but it doesn't like the attention- reminds me of a dog I once had.....strange dog.