Thanks Swedishandgerman - I'll slightly splay the two legs of the dipstick and see how that feels.
I wouldn't describe the oil on the block as a spray exactly - it looks more like it's run down rather than wafting out as a mist. I suppose it could even be the residue from careless topping-up. I never think to use the jug until I've let some oil dribble from the can!
I'll bear in mind what you say about the rubber valve stem oil seals but I haven't seen any smoking on overrun so maybe mine are OK for the time being?
I tested the compression last October and the figures seemed OK - 150psią5% dry and 162psią4% with a squirt of oil.
The crankcase breather connects to the air cleaner - I'll disconnect it as you suggest and check that there are some fumes coming out.
Would it be better if the crankcase breather were connected to the manifold? Not that I can do that immediately since there's only one connection to the manifold and that goes to the brake servo. Though thinking about it I might have a Y-piece somewhere...
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