I believe, it's been many years now.. that you may have a fuel shut off/on diaphragm problem. How/why it empties the pony crankcase is a mystery, but I suspect that it may be at least part of your problem.. as one side has oil and the other side gas... I suspect it could get rather "smoky" if you are pushing oil through the diaphragm. I remember my 720 got lots of oil slobber from that old pony. I'd start with the diaphragm and go from there.. valve guides, rings, etc.. if it has good enough power the turn the big engine over, I wouldn't suspect rings. Are all the cylinders firing? easy to miss at the RPMs the engine runs at...
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Today's Featured Article - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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