I'm running a older vintage type sprint.Fired it up today.My engine was bought used and I never heard it run.Its a 350 with 305 heads.I had started it before but needed to fix a few leaks.Nothing appeared to leak as we fired it this time and it sounded good.Then I began to notice a few milky drops of water dripping from what appears the timing cover area.This I don't understand.It got a little rough sounding and quit.Inspecting the oil, its milky noting water in the oil.Where should I start, head gaskets? When started previously, there was no water in oil. Any opinions?