Is this normal??

Ok,

        so I now have well over 8 miles on the 59 Bugeye.  I start to smell 
what I recognize as BURNING OIL!!!!  After I stop the car I notice the 
large diameter metal pipe sticking out of the exhaust side of the block 
which, it would appear, is blowing oil onto the frame rail/ehaust 
pipe..  is oil exhaust device (for lowering crankcase pressure I 
assume) supposed to be dumping enough oil to make a puddle in less than 
8 miles?

Lester