Water-Oil Mix (grey sludge) on Inside of Oil Filler Cap

Check your PCV system...

Professor www.telstar-electr> In process of winterizing my boat engine (Chevy V-6) I discovered

I think that you are dealing mostly with water condensation from the oil which deposits on the uppermost engine surfaces. I know nothing of boating, but in auto engines this is a sign of short trips and/or littleoldladyesque driving, which doesn't allow the moisture trapped in the oil to boil out completely. Excess moisture could be getting trapped in the engine through the intake due to it's marine environment, or you could be trolling the engine at a lower rpm than is recommended for too long.

Toyota MDT in MO

Base on what you say, probably simple condensation - AKA "No big deal".

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I dont have the froth, but I take the top down and take a country drive a lot - maybe that's why I dont have the froth? :)

Thanks all for the info. I really thought it was just condensation, but thought I'd ask. The boat sat around at the mooring largely unused, with cold nights and very dewy mornings, for a couple of weeks. It was then run twice for short periods before it was hauled. I noticed the grey guck when I started the winterization process a few hours later. Sounds like a perfect setup for condensate, huh? Thanks again. Frank

Oh yeah... In spades.