Replaced my PCV valve today and it helped quite a bit. Cut the smoke down by about 30%. I was able to blow through the old one only after a strong breath (and getting a little oil in my mouth) and it was evident it was pretty gunked up.

Still looking into replacing the head since I'd probably pull it to replace the valve stem seals. I like the idea of loosing the jet valves and starting fresh with a new head, valves, and cam. Also I like pulling things apart.