I have a 1955 235 engine in my 53 pickup. The truck sat for around 20 years and I have posted a few times on it.
So far I have replaced the gas tank, fuel filter, rebuilt the carb, fresh oil change, new cap, plugs, wires. Still need to do points/condenser. Anyway, the truck fires up now on its own and idles really nice. Sounds great with no missing or weird sounds. It shows around 40psi oil pressure at idle which I assume is pretty good when cold? My only issue is that when I accelerate from idle it dumps a decent amount (not excessive) of blue smoke. It's definitely oil related so I am leaning towards a few things. First thought is the rings are frozen, second thought is the valve guide seals are shot. Based on the good amount of reading I have done on here both are possibilities.
An engine rebuild might be in my future, but for now what can I try to at least reduce the smoke or diagnose the problem further? Long term goal with this truck is restoration, but for now I wanted to run and drive it while I am restoring it. I heard a "good run in the country" might help. Sometimes the engine needs to get up to temperature under a load. Once I address my brake issue I plan to do that. The only reason I am putting off a rebuild is that I don't notice any glaring issues with this engine. Head gasket seems fine, no bubbles in radiator, good oil pressure, no smoke on idle. It seems worth looking into a bit further before a potential rebuild.