Fbody1

I think my valve guide seals are leaking , when I look at the plugs they have some oil on the threads, and they are wet,and the car gives a little puff of smoke when I start it up, can this cause some knock? ( not starting the car I mean the oil in the combustion chamber's) I'm getting 4 degrees @ wot then as the rpm's climb it decreases by the time I'm @6200 it's @ 1 degree, and under cruise if I tip in to the throttle I will see some retard thanks for any help( oh yea comp ratio is 11.4 )

shoebox

It would cause detonation if oil was causing deposits in the combustion chamber and they were causing hot spots. Your knock sounds pretty typical though, from what I have observed from internet posts. More than likely, it is something else that is contributing to the knock.