Ted:
Remember that when the engine is running there is quite a lot of air turbulance in the crankcase from all of the moving parts in there. When you remove the oil filler cap you should see/feel a rapid series of pulsations (4 each second or so at idle) and, overall, it should have a very slight positive pressure - it's not gonna blow your hand off if you put your palm over the opening, but you should feel a wee bit of pressure and pulsing on your palm. When you remove your palm it should not give a big blast like doing the same to the end of a tailpipe.
On the oil, every engine I have ever rebuilt (and everyone else, too, for that matter) will quickly wear in the crankshaft bearings and polish the cylinder walls with the rings. That's all part of the "break-in process And happens over the first 1,000 or so miles. This initial wear deposits metal dust in the oil. THAT is what you're seeing in the first three oil changes during break-in. I always change the oil at 100, 300 and 1,000 miles because that's what I was told to do when I was a kid. Each of those changes will show decreasing amounts of dust shimmer until somewhere around 3,000 miles or so (the last break-in change and then repeat every 3,000) it should have finally finished the break-in process and you're good to go.
This sound like what you're seeing??
and you may have stated this earlier and I missed it, but how many miles are on this engine??