Scott:

You mentioned valve job. I can't help but wonder about the quality of the work, especially what was done to the cyl. head and if it was done correctly. Sounds like somethings getting past seals/guides. Which one - who knows?

Unless your oil change regimen is terrible or the car was run low on oil or too hot, too often, I wouldn't suspect rings.

__________________
Mike Murrell
1991 300-SEL - Model 126
M103 - SOHC
"Fräulein"