So the smoke is bluish. Is it acually using oil? I would suspect valve guides unless it has a sh1t load of miles......then maybe rings.On the other hand(theres warts), If the smoke is more of a black color.......Too rich mixture......easier to remedy. You could have white smoke but it probably wouldn't last long enough to notice........Do your homework and report back.....
ASE Advanced Level Master Tech.....
Plugs look great, but yes, when I first start it up, it wont smoke hardly at all, but as oil gets up top, within 5 seconds from fire, it will start to smoke (bluish) and smoke for a good 5 mins until warmed up. My guess is that it is guides and/or seals and with how long it smokes, could be rings with it still puffing a bit after it is up to operating temp. It has 16500 miles on it currently, but in either case, I don't know how it was treated by the PO's let alone if any work was ever really done to the bike. It runs like a bat out of hell though. I'm not even going to bother to do a leak down on the bike, it's 30 years old and surely could use a freshening up.
I'm thinking it maybe time for an 836 kit and some cyl head reconditioning. I wonder what the CFM difference is between the K8 head and the F2 head?