My new (to me) E430T , 1998 with 93K miles blew a lot of oily smoke out of the exhaust when I first took it past 4500rpm - I thought this was just a culmulation of miles of motorway, low rev driving. On a trip today, I saw more oil colured smoke coming out of the exhaust (in the rear view mirror) I wasn't revving hard, maybe just accelerating up a hill from 75mph to 90 mph in 4th (5 speed auto) anyway, I couldn't get it to smoke under certain load/rev combinations, it just did it when it felt like it. When I got home I washed the car off and the rear hatch and screen had an oily film over it.
Are there any experts out there who can give me a clue as to which bits are likely to be worn ( I checked the oil and its not overfilled) - rings ? valve guides ? etc
Thanks for the help

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T Bax
1998 Vath V47 (E430T) + 18" rims
2003 Range Rover 4.4 Vogue
1995 Porsche 993 twin turbo 522ps/757nm DIN