The compression test should give me an indication of the health of each cylinder.
Hey Chris - Lifter pump up is a possibility as it is a hydraulic, though I don't think it pops thru the exhaust. It's more of a rattle, like spark jump, under the hood.
Leaky header gasket - I guess that's feasible. Wouldn't the cylinder it leaks on lean out a bunch and whiten the plug? Just thinking...
PCV - Hmmm, never thought of that. At least it's easy to check.
Thumper - that low output of the alternator has me thinking too. I'll have to look into the that one.

I have a Holley Annihilator Ignition box that I can wire in too. This might bypass some of the issues or cause them to really stand out. It might take a bit to wire it in, but in the long run I want to get away from the problems associated with the MP ignition modules and ballast resistors.

Thanks again guys. This thing has me pulling my hair out and I really don't have that much to spare!

Maybe a quick video from under the hood would help out. I'll see what I can come up with.

BTW - I re-lubed the cam with break in lube while the intake was off, by brushing it on through the drain back holes in the valley. Just on the lobes, nothing on the lifters