Oil Leak - NOT the valve cover

So here's the deal. Not too long ago I fixed the leaky vavle cover on my 258 using Permatex copper. Worked great and still doesn't leak! Now, however, I seem to have developed another leak that is far worse. I thought it might be the rear main seal, but today as I stared at the puddle of oil I noticed that there was a trail of oil leaking down one side of the motor mount on the passenger side. So up does the hood an in I peers. It looks to me like it might be coming from the distributor. Not too long ago, just before the smog check, I replace the PCV valve and the rubber grommet. Seals great now. I just checked the PCV and it still rattles. Now it never leaked from the distributor before, but would excess crankcase pressure be causing this. What would happen if I removed the PCV?