on a 1972 sbc 400 cid 4 bolt main engine the torque is main bearing inner 70 lb ft outter 65 lb ft
It could be burning the oil, but if the catalytic converter is working reasonably well it might not show out the exhaust pipe.
Absorb-all. Looks like kitty litter. Sold at auto parts stores.
go on to a site called dragon art it will show you step by step .