Moppie, Thanks for the fast reply!
This car never lost any oil per Summer let alone every 200 miles. I did most of my recent work on this car about 1000 miles ago (nothing internal), and last week I noticed my oil was down about 2.5 quarts! Very alarming indeed! I first suspected internal engine wear, but I couldn't figure out why all of a sudden the engine would just fall apart so fast. I'm hoping it's just something simple like the breather cap. What do you think.
Heres a little more info. Yes, I believe the rear seal is leaking, has been for years. A drop here and there, nothing big as far as I can tell. Does not smoke at all. But it does spit out some black soot from the exhaust (leaves it on the pavement) when I start it cold.