Crap. Now I'm distracted again from my problems. "your drunk friend overheated it"? He probably said it wasn't too bad didn't he? All great suggestions. You are not fixing this engine with anything short of a tear-down. You said you're burning more oil and running hotter. My guess is overheating twice smeared piston material over the rings. locking them and causing you to burn more oil. The oil ring is now not doing it's job so the engine runs hotter. Cylinders are probably scored. You ran it with improper valve adjustment which may or may not have spauled your cam and lifters. Your '88 350 is not a vortec engine as you know. If you installed a Comp cams flat tappet cam (which your part number is), that is a cast iron cam so a standard iron distributer gear is adequate (should not need a Melonized gear). Vortec engines use steel cams and hydraulic roller lifters and would require a melonized, bronze or composite distributer gear. All that notwithstanding, your solution is a complete teardown and doing your homework going back together.