Good compression... no smell... no smoke. M103s tend to consume more oil than most. After the dealer rebuilt my head on warranty at just under 50K including the latest valve seals, which were upgraded from what my '88 was built with it still used about a quart every 2000. These are high revving engines, and it seems they are setup a little on the "loose" side.

A buddy with a new '79 911 had to add a quart about every 600. Porsche said it was within the normal range.

Just check the oil at every fuel fillup and keep the level above the minimum on the dipstick, but don't overfill it. Wait until a real problem shows up before you start throwing money at it.

Duke