The leak down tests are in, and they're not very good. I got the engine up to temp, pulled the plugs, got the cylinder I was testing up to TDC, and then hooked up my OTC leak down tester. Pressurized each cylinder to 80 psi and got the below leak percentages.
Cyl 1 - 19%
Cyl 2 - 19%
Cyl 3 - 25%
Cyl 4 - 25%
Cyl 5 - 15%
Cyl 6 - 13%
Cyl 7 - 29%
Cyl 8 - 30%
All the numbers are pretty bad for a new engine. Maybe cylinders 5 and 6 could pass as okay, but the rest are just not good. A new engine is apparently supposed to be below 10%. All the leaking was from the crankcase. Intake and exhaust were quiet, and the coolant was stagnant. I'm actually glad the results are bad. Confirms the source of the smoke on decel. Time to get that 331 out and off to the doctor.