[jdmccright]

A failing regulator won't cause gas to mix with the oil...failing piston rings do that. But I would also check to see if you're getting any coolant in the oil. Look at the underside of the oil filler cap and see if there is a chocolate-milk-like residue. If so, you may have leaking intake manifold gaskets or head gaskets. A leak-down test can usually point you to where it is coming from.

Since you have a TBI, you'll get a fuel smell from the whole filter assembly since the injectors are in the open air and spray straight down into the TB bores. But what you could do is remove the filter cover and turn the ignition to on to pressurize the system, then check for any leaks in the gaskets in the injector pod assembly. After that you can start the engine and observe the spray pattern of the injectors using a timing light to give you a stop-motion effect. Clogged injectors can dribble, have an uneven spray pattern, or not spray at all sometimes. It should be an even, conical spray pattern towards the bore walls.

The sluggish performance, missing, or rough idle could be due to vacuum leaks in the TBI base, clogged EGR valve, or stuck IAC valve. Spray carb cleaner around the TBI assembly base gaskets and vacuum lines. If the engine stumbles, you've found a leak.

Finally, with the engine off have someone move the steering wheel while you look under the truck. It can also be the connection between the steering gear (the pitman arm) and the center connection to both tie rods. My truck is loose here, too. Also check the other arm (the idler arm...looks like the pitman arm but bolted to the frame on the psgr side) for excessive play. Wear and looseness on one side usually causes accelerated wear on the other.

Hope this helps!