Passenger side 'blowby'? Just trying to picture, from all your clues, what's going on. And, you say header on that side is hotter.
Getting past your compression check...on one hand, sounds like too much valve overlap, for whatever reason, allowing the flame front into both valves on the exhaust stroke. But, you also have tappet noise?
While you had the spark plugs out, what did they look like???
You do understand about the two main oil galleys in the block, that feed oil to the tappets. Wondering if the one side is losing pressure somehow? That 'might' explain the noise, since tappets MUST have pressured oil to pump-up right.
I would at least pull the valve covers, and take a hard look for any difference, from one bank to the other.
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okiemopar is also right. If the rocker shaft (tube) isn't passing oil, that will make noise, too. If your running stamped steel rockers, they should have oil sitting in the open 'cupped' areas.