Is the oil leaking down the outside of the draft tube or down the inside?
If it is leaking down the outside, then you could have a misaligned cannister or the top of the cannister where the single hold down bolt goes may have been crushed a smidge so that when fully cinched down, the bolt cannot keep the bottom of the can from wobbling. If this is the case, then you would need to remove your cannister, turn it upside down on flat surface, get a sizeable socket and strike it with a hammer to get the sheet metal to go back towards original spec. Check that pesky flat-o-ring at the bottome of that cannister too.. that could be a problem...misalignments are easy to do.
If it is leaking down the inside of the tube (I have had this happen to me too), you have too much blow by from new rings. In the past, I have removed the downdraft tube completely, installed a flat plate to cover the hole (FoMoCo made those to spec also), and then installed a valley pan up top that had the vent opening for Crankcase Ventilation. You could either run a down draft tube from there like most of the late 50s model cars had or you could use this a PCV port to send over to your carb/intake. There are plenty of posts about how to plumb that kind of job to your Y.
How much are you leaking? Does it get worse with higher RPM or remain the same?
Keep us up to date, we are here to help.
Daniel JessupLancaster, California
aka "The Hot Rod Reverend" 
check out the 1955 Ford Fairlane build at www.hotrodreverend.com