<VV> Intake Valve Problem / Corvairitis IS Infectious!

[Western Canada CORSA]

I just finished up pulling the head off a 140 belonging to WCC's newest
member.  She's been a friend for 10 years, and it would appear that
Corvairitis IS infectious.  She has succumbed to the constant exposure.
 
I'll lay out the symptoms to see if anybody has ever experienced anything
like this before.  She just purchased this car, and it didn't come from
"with in" so to speak so we don't know all it's history.  Other than the PO
said the smoking described below came on gradually.
 
It was smoking constantly from the pass. side bank.  White smoke, so it's
oil related.  I figured it was a bad guide.  There is no evidence of blowby,
nothing is being pushed up the dipstick.
 
However, when we pulled the rocker cover, the lower stud nut for the #5
Intake had almost completely backed off.  Not the ball nut mind you, the
whole rocker stud.
 
Would an intake valve not opening cause an extreme vacuum situation during
the stroke that would result in oil being drawn past the rings?
 
Regards,
Joel