Oil in Throttle Body

I recently purchased a 96 Z28 Camaro with the LT1 Engine as a fix-r-uper. The car has high milage and was running rough when I bought it. Upon inspection, it became apparent that something ugly was
happening with the air intake system, and having taken off the throttle body, I found out what it was.... Oil!
It appears that oil has been coming through the vent hose (the one coming from the passenger side valve cover) into the top part of the throttle body and then down into the intake manifold.
I am hoping that someone can explain this to me. The oil doesn't appear to be coming from the PCV valve but, instead, from the hose out of the passenger side valve cover. What could cause this?
I noticed this afternoon that the oil level on the vehicle is about an inch higher than the "maximum" indicated level on the dip-stick. Could this account for the trouble? Is this engine rebuilt time or are there any other alternative explainations? Any thoughts/advice/suggestions would be greatly appreciated.
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wrote:

Drain and replace the oil with the correct amount and see if anything changes. There's a good possibility that the extra oil was being splashed around by the crankshaft and causing your problem. As for needing a rebuild, only a compression test and leak down test will determine if everything is good with the engine without a teardown.
...Ron -- 68'RS Camaro 88'Formula 00'GT Mustang
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Ron,
Thanks for the response. I have drained the oil down to normal levels. I have also installed an aftermarket breather filter in the vent to prevent this from happening again. The car will be back together next week once I get the rest of the project parts in from the dealership. I will post again once I get her runnin.
-Nathaniel
RSCamaro wrote:

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Sounds to me like you might have a case of worn rings and excessive blow-by. I had an older muscle car that had a lot of blow-by on the bottom end which caused lots of oil (or rather vaporized oil/fuel) to be pushed out through the PCV hose. Mine was actually so bad that oil was splattering out of my valve cover breather and onto my valve covers. If it is a high mileage car with lots of hard miles on it I am pretty sure your problem is worn out rings.

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