If the smoke is continuous, you probably need rings as well. Leaky valves usually only smoke at start-up (unless they're noisy) due to oil migration down the valve shaft when the engine is off.

The smoke has a blue-ish tint, correct?

You should pick up a vacuum gauge and see what sort of vacuum your engine is pulling at idle.

__________________
A.S.E Tech A1,A6,A7,A8 & MVAC 609 + EPA 608

Unless stated otherwise, any question I ask is about my greymarket 1985 380SEL.