The " grey" oil is a pretty good indication of something...typical when a cam goes bad....there seems to be a lot of mysteries here....but I bet it will be something basic was missed on the build, in the end.....although it may not be admitted.... ....good luck to you though, and hope it gets fixed.

RIP Monte Smith

Your work is a reflection of yourself, autograph it with quality.

WD for Diamond Pistons,Sidewinder cylinder heads, Wiseco, K1 rods and cranks,BAM lifters, Morel lifters, Molnar Technologies, Harland Sharp, Pro Gear, Cometic, King Engine Bearings and many others.