There comes an age of a vehicle where you ask if the cost of the repair is greater than the replacement cost for the vehicle. For over 10 year old vehicle, perhaps well over 100k miles, if you have a pile of problems it is time to retire it and replace it.
If you do need to service it, we don't really have good evidence to tell whether replacing valve cover seals and rings will fix all your problems.
A problem with power might be a problem related to delivery of Fuel, Air or Spark. Look at each of these systems and check out the basics.
Fuel Filter - is it OK
Fuel Pump - is it working OK?
Air Filter - is it OK shape?
Air ducting, intake manifold - is it free of Vacuum Leak (empty/missing fittings)?
Fuel Mixture is all 'puter controlled now, but you may put your hand over the exhaust pipe with the engine idling, and see if it feels "even", and smell your hand, do you smell gas? oil?
Spark Plugs - removing each plug and remember which cylinder each is from... is the color and wear on each plug nearly identical? All plugs should read light brown. If any one plug shows a different color, that indicates a problem local to that cylinder, which might be bad ring or bad head gasket or bad valve or any such thing, a matter of further investigation. But anyway if all the plugs read similar to each other, then this sort of eliminates the diagnosis of a problem with a particular cylinder.
I can't really make sense of what you are saying about oil on the threads, I don't find it meaningful. What is important is the part of the plug IN the combustion chamber. And when you put the plugs back make sure you put each into the same cylinder it came from, and put oil on the threads.
Also, with engine idling, and hand on gear shift or some place you have a good sense of engine vibration, is engine firing on all cylinders evenly? Do you notice any miss?
Intermittent miss may be bad plug wires... I had an engine down on power and noticed great benefit from new plug wires. Plug wires work good for about 30-50k miles, if yours are older than this consider replacing them.
Hmm, if one plug has oil on the threads and the others don't, it might be that plug just plain isn't firing, the plug wire or distributor on that cylinder is bad or something.