I just finished breaking in my rebuilt 8 and I was on the way to change my oil when the dipstick blows out. After changing my oil and doing a compression check:147,147, 146, 147, I fire it up and it still smokes. There is no oil in the IC piping. Could it be my PCV valve, I did not replace it.

 

Sounds like you aren't getting enough crankcase ventilation. You're pcv valve could very well be clogged. I suggest to either replace it or get rid of the pcv all together by replacing it with a 90 degree AN fitting and run it to a catch can. Usually the ball inside the pcv valve gets stuck in its closed position and gets clogged up with carbon and oil.