TeamD, give me a call some time today. 941-504-6010, my name's Eli. There's tons of things you have to know before you go and spend money on things you PROBABLY don't need. I'd also take those Bosch plugs right back to wherever you bought them and get the stock NGK plugs in there. White smoke is not your friend. Neither is oil and coolant mixed. As far as the oil in the third valve cover, I have money your bolts aren't torqued down. I'd get a brand new valve cover gasket set and replace them. While the covers are off, I'd take a heavy duty towel, like a shop towel, and try to get as much of the excess oil out. I'd also replace those shitty valve cover bolts with ones that have the 10mm caps on them instead of the flat head screwdriver. Change the oil asap, and I would use four to five quarts of 20W50 Castrol GTX along with a quart of Lucas Oil supplement. Your buddy's going to have to spend money on this car quite a bit, so if he's in a tight financial situation he might have to reconsider this car. They need TONS of tender loving care especially when you boost them on the regular