The reason why I dismantled the engine in the first place was a serious lack of power and oil being forced out of everywhere. Now, I've just come back from a 50+ mile round trip and all I can say is my engine is running sweet as a nut (reaching a maximum of 72mph on flats, and a lowest of 32ish on a big hill). I've had my uncle (who was chief mechanic for a Renault Leeds garage before it was bought out by Evans Halshaw) over tonight and he said that I should expect some piston blow by with such an old engine, and told me that if it isn't burning oil (which I now don't think it is), and because it runs, drives and ticks over well, there's nothing to worry about.
On further inspection, with the breather pipe re-connected to the inlet manifold, with a torch on the exhaust to monitor the smoke, even when at full throttle there's no smoke, not blue nor white. There is a fair bit of pressure build up if I put my thumb over the breather pipe, but no oily residue or signs of oil being burnt by the engine.
I'll give it another week or so to see how it does before assessing whether or not to take the head back off and sort the pistons, but as far as I am now concerned, it's running well and it's not burning oil, but there is a lot of blow-by. I'll post a video by tea time (on Tuesday)
Should I really still be worrying?
-Pos
P.S. I have a Haynes manual and I think it's absolutely ****e. All it does is talk you through the stuff that you know how to do. It's when you get to something that makes you think "does this pop off or screw off or do I need to hit it with a huge hammer?" that it's of absolutely no help, it'll just say "remove thermostat" or "remove assembly" without actually telling you what's involved. The workshop manual is a step up in my opinion.