It may very well help your oil consumption to replace the valve stem seals.
I take all kinds of flack on this site for my continual sermons about oil changes, but frequent oil changes are the best and cheapest engine insurance you can buy.
If everything else is okay with your M103 engine, you will probably see much more life from this engine before it's done.
Change oil hot and change oil often,
'84 Euro 240D, 523K miles
'88 300E 5 Speed
'81 300D Daughter's Car
Over 800,000 miles in