I've narrowed it to valve seals, I am praying guides aren't an issue, really don't want to yank the head, but I guess we'll see, oil consumption will be my motivation factor.
Way I can tell is - I start it up and get oil smoke after it's been sitting for a while, but after a few minutes of driving, all is normal. If you start it hot, no smoke at all (not enough time for oil to leak down) but any cold start comes with it's nice cloud of blue stench.
Thanks for all the suggestions, I'll post back when I know more.