318 head gaskets and water jacket holes

you might want to check the last exhaust manifold bolt..as the end bolts on the heads go into water...and sometimes leak...which would dribble down onto the rear head bolt area.

That's a good point as well, I didn't think about it as he says it's coming out as fast as he pours it in. Hmmm, I wonder if that stud is there, good thing to check.