OK, it is a 216 in my 52 Chev, 1 ton.
Exhaust smokes blue, plugs are black.
I have three spots on the block where there are drips building up.
In a recent valve job, I replaced the valve seals, used NOS valves, ground and lapped them but did not knurl the guides. I suspect either the valves are leaking oil into the cylinders or the rings are bad.