Oil in first cylinder

[z@radiks.net]

I've found trouble!  While inspecting my spark plugs the other day, I
found oil encrusted about the end of the 1st cylinder plug.  I had
noticed some hesitation while driving, and had been having a tough time
starting the car lately.  What kind of a can of worms will I be opening
when I try to fix this problem?  What should I look for?  I know the
valve guide or piston ring, but how will I tell which one?
What am I forgetting?


Thanks in advance!
Zach Zaletel
70 Spit Mk III