if its smokin when cold and stops when warmed up, it could be bad rings like mine. i smoke at fist startup and then it stops when it warms up and it uses alot of oil. im just limping it along till i have my F2T is built. if it was valve seals it would do it all the time and alot, mine were bad and it smoked badly all the time. i replaced them and it helped alot but my rings are shot. to replace the seals is not really that hard. u will need compressede air to pressureize the cylinder so when u take off the springs, the valve wont fall into the combustion chamber. do one cylinder at a time. btw, becareful of the hla when putting the valve train back into place, thjey could fall out and end up in the oil pan.(and i am speaking from experience!) my 2 cents points to some worn out rings.
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