I blew through about 6 qts of oil in 10 days!! HELP!!

[lsmalley]

I have a 1990 190E 2.6L and Everytime I change the oil I am fairly observant of when, how much, etc., etc...Well here are the details:
Oil was changed on 11/9/09 @ 248,946 miles with Mobil 1 fully synthetic 15w-50...total of 6 quarts. Bosch Premium oil filter was used and coolant was also drained and flushed and new Zerex G05 was added.

On 11/19/09 my oil light came on. Mileage is now @ 249,630 miles ( a little under 700 miles were driven) and when I checked the dipstick the oil mark was right at the top of the red plastic tip at the end of the stick. I dont have any puddles of oil in my driveway...maybe a little p/s fluid is all. I just changed my valve cover gasket and bought all new valve cover bolts from MB dealership. I tmay have a small leak at the timing cover which is merely a few drops...I will replace that gasket soon. But does anyone have any idea on what the problem is? Is it just that my car is so old? Why is it consuming so much oil?