This is probably why Ford added thermostats in '33 and re-engineered the ventilation system in '35. And why many WWII flatheads got PCV systems!
Water is essential for good sludgemaking...remember that the engine not only gets water from condensation from the air, but is also making gallons of water as the main combustion byproduct and some of that gets by the rings. Thermostats are needed because the engine is likely way too cold when running under light loads to cook off the water. The '35 up type ventilation systems depend on movement, and are probably pretty much ineffective at light loads. I suspect that PCV might be more beneficial than full flow filtration as a modification...
Also, sometimes when you take apart a flathead you find serious corrosion on the various sheet metal baffles in there...parts that spent their whole lives soaking in oil!
I think this is likely from the various combustion byproducts in blow-by dissolving in thw water, joining the sludge, and making badness.