I never had any plans to keep this motor or drive it with it in it but out of curiosity I'm wondering what's wrong with it.
What I originally thought was a blown head gasket or intake gasket seems to be much worse.

The motor is severly mismatched (355 with 200cc dart heads, mild 6,400 rpm shift point cam, roller tip rockers, single plane victor jr - buy hey, it produced some high 12 second time slips so i guess it's not so bad). I noticed when I went to buy the car that the radiator cap was off and figured it had a bad gasket. I could see a small amount of coolant in the oil. Well today I pushed the car outside (cooked reverse cause the TV cable wasn't hooked up) and after I drove it back inside I saw fluid dripping out the exhaust at a rapid rate. I stuck my hand in it and saw it was oil and a lot of it (it was coming out at a rate like a bloody nose so it was pretty bad).

Biggest shock is their is no y or h-pipe. No oil is showing up on the plugs that I can see (unless whatever broke literally broke after I checked the plugs which was before I saw the oil coming out the exhaust). The exhaust is true duals. Can this be a cracked block? I find it hard to believe both head gaskets blew out or both sides of the manifold gaskets let loose.

Check your plugs again cause carbon build up with moisture will drip from your exhaust looking like oil.

What about carbon build up with coolant? Same result?

Because it was dark like old oil but thinking about it, slimey like coolant not oil.

yea it will do the same thing.

Let it run until the exhaust heats up enough to vaporize all of the accumulated moisture inside the pipes. Then it will stop dripping.

Sounds more like, the wrong intake gaskets.

That would make the most sense lol. He put 20,000 miles on the motor so unless he changed them recently I have trouble believing he did that.

Ya just never know... some people's standards of acceptability for things like that are quite a bit *looser* than others'. For that matter, that could even be why it was for sale in the first place. Especially if it seemed too cheeep for its bill of materials.