Uhhh, you may have the cart before the horse on this one.
From '75/76 on, the car should have a catalytic convertor, and an air pump, possibly also has an 02 sensor and a feedback carburetor too. If any of these is acting up, disabled, not working at all or missing, that could be the source of some of your symptoms. It's worth checking before looking elsewhere, especially if an engine/car has over 100,000 miles, or on ANYTHING this old. Convertors can get plugged up with cars just having been sitting around too long also, and electrical wiring acts up more with accumulating age.
Check the easier stuff first.
Pull the 02 sensor and check it out. Then check the air pump.
If yours DOES have an oxygen sensor (I don't remember if the '79 did, but I suspect that it does), and the 02 sensor isn't working properly, the engine management system is typically supposed to make an engine go to a richer mixture mode when this happens as a failsafe, so that the engine doesn't run too hot. The reasoning goes that even if the engine is then running rich, it will take longer for THAT condition to cause long term damage than if it runs too lean, which can cause damage in a hurry. And maybe someone will notice what is happening and fix it before it's too late.
For example, let's say that the 02 sensor is plugged up with carbon or the sensor wire isn't making good electrical contact. Then the engine shifts to a richer running mode. If that is what happened, you may have noticed a decrease in fuel mileage from that point, and that's usually what people notice first, even before any performance issues.
Or, if it doesn't have properly working catalytic convertor and/or air pump and is just burning oil for example, it would tend to be running rich and the 02 sensor should be able to pick that condition up and try to correct for it. This MAY make an engine knock more evident under load, as the fuel mixture would be being leaned down to compensate for the burned oil passing through the sensor. While engine oil can be considered fuel, it doesn't burn at the same speed as gasoline, so some of it gets through the combustion chamber as unburned/partially burned and can form deposits on the plugs, 02 sensor, cat convertor, etc.
The "crusty" plugs, unless they are actually very sooty and/or oily down to the metal shell, may actually just be a "normal" accumulation of crud (from high mileage and them having not been changed or cleaned in too long a period of time), which is then being overlaid by something that started more recently. Like maybe from a bad set of plug wires or a cap/rotor problem, a weak coil, etc. causing a frequent miss.
The reason that I said a properly working convertor, is that any halfway working convertor will clean up the exhaust to the point that it would be difficult to impossible to see any smoke from oil burning, unless it was burning through oil at something like 200 miles or less per quart, and I think that you would have noticed and mentioned that.
My wife once had a 4 cylinder car with stuck oil control rings in 2 cylinders that was burning oil at the rate of 50 miles per quart and except on very fast take offs, (the car still RAN fine) there was NO evidence of smoke in the exhaust. There was a tiny bit of carbon in the tail pipe, but hardly noticible. Her plugs did load up quickly, but they were mostly wet carbon fouling.