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I have a 305 with 70K miles. I rebuilt engine down to short block. Left the pistons in an checked the bores, could still see some crosshatch in the bores. The worst bore was no more than .003 out of round. Heads are rebuilt with new seals, valves, and springs. Engine runs great with no visible oil or smoke coming from exhaust. But It uses ~1qt of oil every 1250-1500 miles. Is that acceptable for a engine with 70K miles? Like I said before engine runs great.
 

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That seems a bit high usage. no drips? check your tail pipe for blue smoke. check your coolant? It has to be going somewhere
 

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was it leaking oil before? is that an '87 block with one-piece rear main seal? did you replace any freeze plugs or other plugs?
 

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have you checked underneath? goto an oil lube shop with a pit and ask to let them use it.
either:
1) you're burning it,
2) you're leaking it, or,
3) you're cross-contaminating to another system
 
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