Originally Posted by Rusty

Compression test won't show bad valve seals. A leak down test won't either.

He as a couple of worn valve seals. Nothing more.

White smoke on start up. Water in the exhaust. Condensation.
White smoke when running. Water in the combustion somewhere.
Blue smoke when letting off of throttle. Valve seals.
Blue smoke when taking off. Most likely rings.
Black smoke. Fuel mixture issues.