Steve,
I can give you my personal experience. The white goo is typically condensation that mixes with the oil vapors. How is the blow by when you revmove the breather?
My car was a barn find (20 year sleeping beauty). When I started it, I also had white goo from the breather to the point I used to start it and let it idle while checking and tweaking and went through two sets of spark plugs without driving a singe mile. On my first drive, I actually had the breather fed into a bottle to collect the condensation. After a 100 miles, I just put it back and do not have a problems. On cold days, you will find a lot of condensation forming.
I took Joe and everyone on this boards advice. These cars a meant to start and go, don't leave it idling for long periods. I just cruised at 95MPH yesterday
At some point I plan to overhaul my engine (my wallet decides when).
Maistran.