Changed my oil today and examined the contents of the filter very closely. There is definate sparkle in the oil. I have been using Engine Restore which has seemed to help slow down some oil consumption. I don't know what is in the stuff besides "CSL", whatever that is. When I pour it in I don't see any sparkle.

Or do I put my P&P heads on a reman short block?

if you pour the oil with the specs in a shallow pan and move a magnet near.....does the specs follow the magnet??

that would be bad if they did.

They do.

Are you going to sell it?

How many miles on the motor?

175k

My car? Hell no.

You have metal flakes in your oil. They're something iron or steel. Aluminum won't follow a magnet. There are alot of parts in the engine where it could be coming from but from past experience on older engines the first thing that comes to mind is the bearing/crank as the most likely suspect.

I'm no expert on these engines so I'll let the gearheads give the advice. I hope theres somewhat better advice they can give.
<crosses fingers>

Change the oil again and add a PTFE teflon additive to stop whatever is wearing. You got nothing to loose.