i have a new rebuild engine almost every thing has been replace on the engine it runs good has alot of power but my issue is it smokes lightly when in idle and it would smoke alot when deceleration some time its smoke alot on aceleration some times it doesnt any idea compression is with in 2 psi so compression is good head has been redone and new valve guide seal

Have you gone thrugh the brake in period yet? sounds like valve seals, "new" doesn't mean "good".

Yep sounds like dry rotted valve guide seals, who built your motor ? And what oil are you using ? and don't say synthetic.

I would think a problem with the oil rings if it's smoking on decal. OP says new valve guide seals. Oil ring could be the wrong tension or something.

i use conventional i took the cylinder head to a machines shop to get a new seat guide seal and bearing the piston is 1 over new piston and ring and new bearing i put it all together and i im sure that the ring are stagger the right way im thinking its the seal due to compression is perfect im hooing some one else had this same issue im gonna try to drive the car hard to beak it in this week

Do not drive it hard, brake it in the rite way.

im hoping if i drive it hard i hope that the oil seal would seal up

You need to make sure the cylinders seat before you beat on the motor or you could score the walls and or brake a ring.