1952 Chevy Pickup

i have a 1952 chevy pickup with a 216. the valve cover has vent like openings most likely to vent air duh. but when i check if any oil is in there, there is vary vary little. is that normal, it would make sence not to have alot do to the vents but still?Also its throwing white smoke through the vents on the valve cover and exhast. anyone have an answer to y the vents and an answer to y the smoke.

Problem 2

problem 2 my truck ran a high at high rpms but i adjusted the carb and the truck runs at low rpms but the butterfly needs to be closed while it runs. and another problem is when i switch to reverse it jumps back from being a manual but once in reverse the engine shuts off. so y does the butterfly need to be closed to run and y does the engine shut off once shifted?

Vents are for crankcase to keep pressure from building. Doesnt take much oil to keep rockers lubed. As for your reverse problem, check linkage to make sure it isnt rubbing any wires when you shit.White somke is a sign of burning oil, can you smell burnt oil? You may need new seals or rings. Tell me more about your truck, mileage and history.