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Is the foam filter in place in the oil fill cap? If it's blowing oil as bad as you say it would soon saturate that, though.
I'd check the oil drainbacks in the heads just in case it's pooling in the rocker area and sucking in around valve guides.
Have you done a compression check? If it was in fact rebuilt, sounds like either rings have not seated or one is cracked.
Is the PCV flapper valve functioning? Take it loose and shake it; if it rattles it's probably OK, but I still think they're weird. Make sure the small vacuum line isn't plugged.
Wouldn't worry too much about the oil fill tube angle. Most I've seen angle off to the right side of the car, but my green Starfire has aftermarket A/C which required a modified fill tube. It's bent like a dogleg and I'm pretty sure came with the A/C installation kit.
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I know absolutely nothing about Oldsmobiles.
Just ask the owner of Oldspower.com
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