thanks to all of you guys for your answers, i will do all the changes tomorrow , im gonna check and see if maybe the thermostat is running properly, maybe its clogged, thanks alot guys.

Good advice above!! Make sure that you get that oil out of there now!!!! You need an oil temp gauge. My 502's with crossovers run with a water temp in the 130-135 degree range and my oil temp is around 215-220 unless I'm really running hard :) then they are 230-235. I'm running Kieth Eickert thermostatically controlled oil systems that open at 195 degrees.

If you are just taking the boat out for short runs, maybe your oil isn't getting hot enough (over 212) to burn off the condensation. That's the best case scenario!! Regardless of what the cause is, you have to get that oil out of there before major damage occurs.

Good Luck!!

Craig

It may take more than one oil change to get all the moisture out so don't panic if you still see moisture after the first change. Buy some cheap oil just to flush out the moisture completely. Also, no one mentioned but it is possible that it is gas in your oil, you can tell by smell.

well, i just changed the oil and i dont see any water in the oil, black yes but milky no, the milk was in the valve covers and apparently not in the pan, one goon thing, i just opened the thermostat housing and there is no thermostat there, uh, well i jus went and bought a 160 degrees thermostat and put it on. before when i put the muffs alot of water coming out of the headers, now there is nothing, i watched as the needle went up to almost 200 and barely any water from headers still, i freaked and chut it down, maybe the thermostat was just opening but didnt want to take the chance, is this normal?

I always "prime" the block with water, take off the thermostat housing and fill the intake manifold so the thermostat can open right away.

Ok, I need to jump in on this one. I too have a built genVI 502 block, merlin heads, lightining magnum water jacketed headers with a cross over cooling system. I bought this boat early last year and had to redue the cylinder heads to marine quality, ie Manley intake valves, Inconel exhaust valves, and a good valve job.
It has a mild cam, maybe around 425-450 horse so I dought reversion is a problem, I have no real cam spec though.

I also get a decent amount of condensation, sometimes brown-milky color, but nornmally just water at the breathers. I can take the breather out and shake it, ill get a dribble of water to come out, not too excessive though. I have never had any problems with oil in the pan, I have never seen milky color on dip stick or anywhere other than breather valve covers.

NOTE: I had this same amount of condensation before and after the cylinder head job, there was no sign of rust on the valve train by any means.

So anyway, how much condensation is normal? If I remember correctly my oil gauge will reach around 210-225 degrees and water temp is around 165. Should I be worried, anything to look into, check pressure on the cooling system, or is this somewhat normal? You guys seem to know your stuff on this board, Always have been helpful. Thanks

I would say that if there was no real amount of water in the pan, your problem is probably just the motor running to cold with no themostat installed. This allows the water to go thru the motor so fast that the block never realy warms up, except for the oil. This helps water condense in the breaher system and inside the valve covers, where it mixes with the oil when you run the motor and makes the milky residue you are seeing. Like the guys here are saying, get the oil and filters changed a few times and clean under the valve covers and remove the sludge where ever you can reach it. As for a thermostat your motor sounds like its cold blooded, see if you can find a 140 degree marine thermostat and try that, but make sure you monitor your oil temp and don't let it get much over 220. Hope their is no major motor damage, waters is hardest on the bearings, but you will know that if your oil pressure starts running lower. Good Luck,
Raylar

You didn't tell if you have crossover or circ pump.
If you have crossover you need to use the type with a bypass hose
between crossover and thermostat housing to allow water flow to the exhaust when the thermostat is closed.

I will get a oil temp sender this week, i do have a croosover and i will put the bypass to the thermostat housing, why a marine thermostat? what is the difference, and people say to put holes in it, what size and how many?
Thanks

I vote intake gasket.On my engine I would tighten the intake manifold every time before I went out and allways seemed to get a little something on the bolts.That went on for maybe seven trips out and then after that they allways came up tight.I allso said the heck with the touque specs and would pull them down tight.Hope you get it figured out.