So I've taken out my distributor as it was rusting out and obviously maker her run like crap.
I've had a condensation issue ( I believe) and installed a 212 oil thermostat to cure it.

But when I pulled the dist out even the shaft is coated in milkshake. I've only had boat out once this year and parked it right away as it wasn't running right.

How normal is that? I'm guessing if it's a bit frothy under valve cover it makes its way there to?

IMO, milky oil on the distributor shaft, isnt condensation. A little bit on the breather vents, maybe.

Faackkkkk........not what I was hoping to hear, you know bought the motor a couple years ago from a member here , supposed to be refreshed/ rebuilt (he had 2 of them) after rebuild one went to the dyno ( the one I bought) and other went in his boat for a shake down run.

But I have had nothing but issues

pressure check the motor if in dought.