Now we're getting somewhere guys. Thanks. I think

. Initially I was checking my injectors cause the car was taking way to long to start. I ended up replacing the fuel pump after determining that it was leaking back. The car was still running like crap and I only had 40 days on the last tune, so it was easy to check the injectors.
When I did the tune I did a full compression test with all the plugs out. 165-180 around. # 8 was 180. I did 5 strokes each. I don't really drive the car way hard most of the time cause of traffic and cops, but when I can I romp for speed. No burnouts or racing yet, but I regularly run up to 80- 90 and have been up to 125 a few times. The engine has 114000 mi. #8 was a mess but still burning when I changed plugs. I did not do a leak down (don't really know what that is) when I did the compression test.
I have NO leakes of oil. I changed the PCV to rule out cheaply that that might be causing unusual oil consumption on the advice of a mechanic.
I'm a backyard dood, but have access to lots of equipment and advice beyond my own rather extensive tool collection. I'm talkin' to you guys cause I'm lookin' for good Vette experience vs. general mechanics. I'm not bad for general stuff into the early 70's, but now there's all the computers and on and on.
My best freind has a shop and a lot of updated knowledge with plenty of GM training and computer stuff but he's mostly into general maintnance and doesn't know everything, but tons more than me. Consequently, I also hear opinions of other ? savvy people. Sometimes I think they have good advice, (thus the original question about the Studebaker umbrellas) and sometimes not, but most of them have good expeience and thats why I consider what they say.
Cooling system is OK for the most part. I've had the car on a lift more times in the last week than most people will as long as they own one. I'm very meticulous with my vehicles and I notice any small imperfections
as far as dirt and leaks.
I'm NOT puking blue. I had to REALY pay attention in the shop to see any smoke and smell the oil during revving. You can't see it driving down the road from the driver point of view at all, nothing on start that I can see.
Sorry to ramble, but I'm trying to answer all points. Guides would seem to be the next step I guess, although I've never done any. I have access to the equipment to do them in the car, I guess without too much trouble.
Thanks agian for the responses and keep your thoughts comming please;worship