I have a 75-280 w/91K on it. Got it 2 months ago from So. California. Have spent time getting it tuned,timed,etc and it runs real good.    But has developed oil smoking real bad on a long decelaration mode like coasting down a hill.    Have done compression check twice, range from 150 to 125 or 130 in #'s 4 and 6. Vacuum is 16"/HG .    I adjusted the valves(1st time), no noticiable change. It does not smoke on start up.    So what do you all think?? Valve stem seals or lower end IE: rings:cry: