[QUOTE=shertex;3029141]Oh, and I'm also getting white smoke out of the exhaust. Is this symptom also consistent with bad delivery valve seals?[/QUOTE

I think it is a good possibility. For the time it takes I might take a small mirror or piece of glass and hold it in the exhaust stream for a short time. If condensate forms on the surface it might be coolant .

In your case though logically to me would be the more likely senario that bad delivery valve seals causing issues in the original intended fuel delivery timing.

For what it is worth check the upper coolant hose after the car sits overnight to see if it is soft like it should be or still under pressure. Kind of goes with that generation of engines to do that periodically in my opinion. For the time taken it just assures you that it is most likely the seals if the coolant hose pressure is not retained.