The symptoms for valve seals leaking is usually:
smoke on the initial start of the day,
a false start i.e., the 103 starts once then stalls, and
oil consumption @ more than a quart in less than 1,000 miles.

With over 200,000 miles you may consider doing a compression test or better yet a leak down test first. Auto parts stores may rent/loan the tester.

Blue smoke at 1,200 RPM's is more likely:
stuck, clogged worn or broken piston rings,
the oil returns are clogged in the cylinder head causing the oil level to rise onto the intake valve stems before finding its way back into the oil pan, and/or a blocked breather on the inside top of the valve cover.

Don't give up on it yet, the 103 motor is very durable. Consider doing the valve seals as planned, clean the top of the cylinder head making sure the oil return holes are fully open back to the oil pan, disassemble the breather inside the valve cover and thoroughly clean it and then use an internal engine cleaner to free up the rings.

If you wish to experiment you could even do a before and after compression test after the internal cleaner. I have not used but would look at AutoRX for this. Remember if you use a cleaner it will take time (weeks?) to work and there will be oil in the exhaust system that will diminish over a week or so after the problem is fixed. If you do a procedure and the smoke does not stop immediately don't get discouraged, give it time.

Good luck and keep us posted.

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"Rudeness is a weak man's imitation of strength" - Eric Hoffer