I have an 84 z28 camaro with a stock 305. The trouble i am having is that i have to much oil pressure, the oil is pushing through the oil breather and valve cover gaskets making a mess of everything and not to mention the smoke when u come to a stop. The pressure guage is at its limit also. Eventually im gonna drop in a 327 or a 350 but until i can afford do do that i have to live with the 305. Any input would be appreciated. I have been told it could be rings????  

Sounds like your PCV is clogged. Your engine isn't venting properly, so you are building up a high pressure in the crank case.

Bryan