Have you done a compression test yet?
Back in 2011 my 445 had just over 1000 hours.
That tube was blowing oil into the filter real bad. I even made me a tube to let all that oil blow out on the ground for a few months.
No smoke & it seemed to run OK, but I had like 160psi on the left side and maybe 190 on the right side.
It was fouling the left plug often.
I never did see any milky stuff on the filler cap.
I had a set of rings installed including that little reed valve and cover. Which is real cheap but NOT easy to get to.
The left side was worn and egg shaped so that I should have had it bored oversized and installed larger pistons/rings but that was too expensive so I rolled the dice.
Now after 300 more hours I still have a small amount of oil coming into the breather. I have never had the valves or heads worked on, except for adjusting the valve after the engine was reassembled, so I am interested in what you find with this.
I still have trouble with it fouling plugs so something is still not right but I am not sure what.