There are only 2 things that can make the dipstick pop up. One is physical contact with the stick for some reason. You should see witness marks on the bottom of the stick somewhere or a bent stick. Second is excessive crankcase pressure. You stated each valve cover has a breather in it. One way to check the PCV system easily without tools is to do the "paper test". With the engine running fully warmed up, remove one breather and tape it shut with a piece of duct tape. Then get a piece of typing paper or notebook paper and cut a 3X3" square. Remove the other breather. With the engine at 1000 RPM's approx place the paper square over the hole on the removed breather. The paper should be sucked to the valve cover hole and remain there. It should not just flutter around and fall off and it certainly should not be pushed away from the valve cover. In other words, there should be a slight vacuum in the crankcase. If it fails this test, either the PCV system is not working for some reason or you have excessive blowby in the engine. Crankcase pressure just takes a marginal sealing engine like a Pontiac and makes it extra difficult to seal. A few little drips here and there just has to be considered normal on an old engine design. Obviously, an engine leaving a puddle on the ground needs to be dealt with.
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