Oil dripping from block vent on 292 Ford V8 1956

[Guest DickTrierweiler]

I have 1956 Ford Y block V8 292CID and oil drips from the crankcase vent. It makes quite a puddle. Has anyone ever experienced this and what is the fix. I have a friend that had one that did this and he replaced the entire vent assembly and he said that it fixed it. I have replaced the vent assembly and it still drips the oil. I have noticed that the temperature is low on the engine and needs a new thermostat. Could this have something to do with this?. The compression is good however it is not at the top. The vacuum is 20 inches and holding steady. Help from someone that might have a clue. Thanks Dick