Just thought it was worth a mention. I also replaced the little oneway inline vaccuum valve. I suppose you could do a test by finding that vaccuum line on your firewall or engine and simply plugging it off for a period of time to see if it has any affect on your rig. Dont ask me how it caused the PCV to malfunction because i have no idea, all i know is that once i replaced the reservoir and the little oneway valve the oil loss stopped. I drove to California and back home, then took a trip to portland oregon and back, never lost a drop of oil. Yes i also had an oil burn smell, but it didnt sit there blowing smoke out the tailpipe. Regardless it all stopped when i replaced that vaccuum reservoir to my amazement. Added note, be careful removing the PCV valve from the valve cover, if you break that plastic insert in the valve cover you will have to purchase an entire valve cover because they dont sell just the insert. By the way i also bought 3 PCV valves thinking that the PCV valve itself was the problem. Check for any vaccuum leaks, like a cracked line. If i recall there was a vaccuum line on the F series pickups that was causing this sort of an issue also.
I was in the same shoes you are, i thought i was gonna have to yank the engine and have it rebuilt. So i resigned myself that i would start saving money for a rebuild but in the mean time i needed the AC vents to function properly because my dog goes with me everyplace and it was just to hot for him inside the truck even with the windows down. Anyway, im not saying that is whats causing your oil loss, im just sharing what i experienced on mine. My truck had like 75,000 miles on it at that time so i was baffled as to why it was losing oil already.