Oil leak - Worse than it looks?

Hi.
This looks like a great site and forum and I look forward to learning a lot and hopefully contributing from time to time.

I am the new owner of a 1992 Previa LE with 101,000 miles on it. The price was right ($200).
However, the van runs rough but no check engine light. I pulled the engine cover, and saw signs of an oil leak. When I pulled the spark plug cover, I was quite surprised with the amount of oil residue I saw. Plugs two and three also have oil and carbon residue.
I suspect the PCV valve stopped working and caused the oil to get past the valve cover and the spark plug seals which are probably original, just like the 1991 dated ignition wires.
So, is this worse than it looks?
I plan on doing a compression test really soon.
Thanks.
Attachment 1011Attachment 1012Attachment 1010

When I purchased my 92 Previa it had a miss and my plug wires looked similar to yours. I put a new valve cover gasket & new plug tube seals on it then put new plugs, plug wires, rotor, & distributor cap on too. It ran like a top after that (until it got totaled by a drunk driver). You might also look inside the distributor to make sure there's no oil in there. Sometimes the distributor o-ring leaks allowing oil into the distributor. When that happens it can make it run rough too. Tim

Thanks Tim.
If oil has leaked into the distributor does the whole unit need replacing or just the cap, rotor, and o-ring?

Good question. When mine got that leak I just swapped the whole distributor with one from one of my parts rigs. I'm pretty sure you could just replace the o-ring but unfortunately all my service manuals are still packed away after moving. Perhaps somebody else here will know the answer :cnfsd:. Tim

Some relatively good news, I think.
Cold (and dry) compression test numbers from earlier tonight:
#1: 155 psi
#2: 150 psi
#3: 185 psi
#4: 160 psi

Spec "Standard" compression is supposed to be 178 psi warm. "Minimum" is listed at 128 psi.

I will be ordering a few parts. Getting some NGK wires and plugs.
Are Fel-Pro valve cover gasket kits good quality? Likewise, Bosch distributor caps and rotors. Airtex PCV valve?
Thanks.

Forgot to mention that for #3, the spark plug boot was covered in oil and carbon. This might explain the higher compression number.

I can't comment on aftermarket tune-up parts/gaskets as I only purchase Genuine Toyota. I do however make an exception with plugs & 02 sensors & purchase Denso. On these items Denso was OEM for Toyota (same thing) & can be purchased elsewhere for much better prices. Good luck. Tim