Hi,
One item to look at would be your intake to head alignment. Many intakes, especially if they are used, can be milled to the point that they don't make an even alignment to the head. This will open up the bottom of the intake gaskets to
oil into the intake and coolant ports. If this is the case, you problably will get water into the
oil also. Normally though, milky coolant water is a function of cumbustion gases or
oil pressure entering into the water passages. Head gaskets, or oil feed passages that feed the rocker arms through the block can also cause this condition.
If you have any questions, please fell free to call me and disguss this situation.
Tom Lucas FE specialties 916-339-0427