Blowby means the rings are worn slap out. When the spark plug fires, fuel/air explodes, and the piston is being pushed down, (also refered to the power stroke in the cycle)gasses are seeping around the rings and into the crankcase. This means a loss of power and pressure in the crankcase that has to escape somewhere. In J's case, out the dipstick tube. Hey J, I'm building a 302 right now and I'm puting a Comp cam XE268H in it. The guy I take my machine work to said it was a good, streetable cam. A dual plane intake and better ignition would help performance too. Good luck!
Michelle
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1995 Mustang V6,automaatic
1966 Mustang
The long term project
1983 Mustang GT
The 460 project
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