re: New truck spin-off, overhauling a GM motor.

Don't start me to lying, but probably not. Could just be a slow leak into the cylinders. My engine has always burned a little oil. I changed the plugs in it last weekend and got pretty worried when I saw oil on the threads of the front and back plug. I asked a guy I work with who was a service tech at a GM dealership for years and he said he'd bet the farm it's a leaking head gasket, but as long as there was no oil on the tip of the plug then it's not a huge concern and to be expected with a high mileage engine.

Like I said best way to find out is to have someone who knows more than you and me pull the plugs and check the compression. An engine burning oil can come from a few different things, and not all of them are the end of the world.