Nope, no burning oil. The car has brand new heads, guides, and seals. The fouling is very sooty, not oily looking at all. Like I said, it goes away once it's warmed up and driven some but it still has an unstable idle and runs very "un-Mercedes" like.
The car came from an estate auction in Palm Beach, FL. I'm not too terribly versed in the ways of Mercedes dealer service but it looked obvious to me that the car had been serviced by the numbers. Is it bad that the timing chain may have let go sometime before I got it? The left side valve cover looks as if it had been repaired at some point which makes me think the chain/guides let go.
Thanks for your input, though.