Tuning with jets, Power valves and an O2 guage

This morning I went out to the car again. There has been a little collection of oil below the intake. Today was the second time I wiped it clean. Sorta odd, since this used to happen before with the 509 cam. I checked the intake bolts. I was able to turn them an additional 1/4 turn.
I went for a drive after rigging up a long hose and a fuel pressure guage. I was asked about the fuel pressure at WOT, this was the only way I could test it. I get 7-8 at idle, around 7 at cruise and at WOT it drops to about 5 but not below that. In my first 2 WOT runs, the engine DID NOT detonate! I was friggin happy, but cautious, I made 3 more WOT runs, but the detonation came back.
Along with the oil in the valley pan, I've also seen a thin film on each head between the valve covers and the intake. I don't know if oil is pushing up from the intake/head seals or if the valve covers are leaking there. The sides of both valve covers are wet across from the intake.
I'm going to change both valve cover gaskets. I'll surely look for any signs of leakage. I'm going to replace the valley pan too. I understand that even a drop of oil can cause detonation, so I want to make sure the oil stays out of the intake tract.

This is problem I had. My 383 was sucking oil through the valley pan. And like Moper said even a small amount of oil will cause detonation. Thats why I asked about reading the plugs, try to find signs of it burning oil.