engine problem

I have a modded 89 5.0. It was rebuilt about 3,000 miles ago. I noticed it isnt as fast as it should be with its mods. i also noticed that when i hit the gas a little puff of white smoke came out the exhaust. So i had taken the backing plate of my edlebrock intake manifold and found a puddle of oil sitting there. i thoroughly cleaned it and put it on . took it for a test drive and it is back to the same thing. anyone know what is wrong? and if so how to fix it. thnx Jason

sounds like a pcv problem to me... either there's no basket filter under teh valve in the lower manifold and oil is shooting out from there, or the pcv valve itself is stuck and oil is shooting into the intake through the clean air hose and through the throttle body. unless you have a very serious piston ring problem, which i find highly unlikely.