Originally Posted by mikebontoft
Bad rings will not cause oil to pool up above the spark plugs. When you removed the plug, the oil filled into the cylinder. It's just the valve cover gasket.
The lifters are a solid bucket type, so there is no adjustment available. I'd recommend an oil change and the use a of a good filter. Some of the crappy ones can inhibit pressure and cause upper end noise.
Recommended oil? And filer? I use manns filters on my vw for the sludge protection.