All piston engines have blow-by, it comes from the sudden increase in pressure when air/fuel is ignited, most of the pressure is used to power the crankshaft(power stroke) but some "blows-by" the rings into the crankcase.
As rings get worn the blow-by increases.
Pre-70's there was just a tube on the upper oil pan or block that pointed down at the ground, that allowed blow-by pressure to be let out of the crankcase, along with oil vapor.
Pollution concerns lead to the Pollution Control Valve(PCV), this recycled some of the blow-by/oil vapor back into the combustion chamber via the intake manifold.
But the PCV only pulls some of the blow-by pressure out.
There will also be a hose from the valve cover or oil filler tube to the air plenum(air cleaner tube to intake), this pulls out more blow-by pressure, the Vent hose.
Remove and clean out the PCV vacuum hose and the air plenum > valve cover hose, make sure they are not clogged with oil.
The PCV can get clogged with oil as well, it can be cleaned with carb cleaner, it is just an air valve, or replaced
If everything is clean and open then you probably have bad rings, this would, of course, reduce power in general, less pressure on the power stroke.
But could reduce power even more by the amount of blow-by/oil vapor entering the intake via the PCV and "Vent" hose.
You could try removing the Vent hose from the air plenum, plug that hole, and extend that hose down below the engine, so oil vapor won't end up all over the engine bay, or on the exhaust pipe, fire hazard.
See if engine performance improves, "ahhh" engine says, "more fresh air", lol.
This is an "air care" violation, so a temporary test
