One other thought on your grey foam - do you have a windage tray in your
oil pan, and you're not over-filling the
oil? If not, the crank could be churning up your
oil. You are likely also getting blow by going up the oil dipstick tube as well and that's creating foam also. Just make sure the foam is not from water as well - a much bigger issue with which I am all too familiar.
Also, you can create an oil filler tube cap with a PCV valve built in to it by using a breather cap with PCV and putting the rubber grommet into the end of the fill tube and then inserting the breather cap. I did this on my old intake, but found I had to use a radiator hose clamp to keep the breather cap from coming loose from the oil filler tube. Kept me from cutting holes in my valve covers - which I have since had to do since the Edelbrock intake doesn't have an oil filler tube.