well the temp dont worry about, you are supposed to bleed the system extremely well so you don't have hot air build up in the cooling system.. the second your temp sensor reads hot air what do you think is gonna happen? and as for the air coming out of the oil cap. how hard is it? mine is the same way it should be coming out a lil since you have your cams(or cam) spinning in there, but not to hard (mine smeels like exhaust kinda too, its prob burning oil? how good are your valve seels?