drive out the lower shaft roll pin/remove the collar & add shims to reduce the axial play to .005" Speedway motors has a nice kit of flat shims for cheap. its going up then dripping out the 2 drain holes in the bottom of the dist "bowl"? you might have alot of blowby pressure contributing to this. Actually that (not the blowby but it being lubed) is a good thing as they dont come with the manual oiler side cups like they used to for the bushings but the excessive dripping is unsightly