RE: Oil blow by
The GP 40 has a bronze bushing for a bearing.
The engine is no longer made.
There were other engine made that were excatly the same engine... Tower 40, Thunder Tiger GP40, and the Magnum GP40. The OS FP40 was the same except around the carb area.
There's nothing about the current Thunder Tiger GP42 that will interchange.
The Magnum GP40 was made by Thunder Tiger.
Bushing engines sometimes are a little messy around the front of the bearing. Its better for them to be this way than to not have oil and wear out.
An engine running rich has more tendacy to be sloppy on the outside.
All our glow engines spray a little fuel out of the carb when running, especially when run rich.
Your engine should be fine.
Enjoy,
Jim