Ok. So after driving my new to me MM for 2,167 miles, I have noticed that it was down almost 2 quarts of oil. Confirmed blue smoke on start up as well. After searching it seams most likely culprit is the valve guides or stem seals.
My logic tells me that to solve the problem correctly, I had better be ready to get the heads rebuilt. I was thinking of pulling them off this winter (want to forged the bottom end anyway so they are already coming off) and send them off to MHS for a complete overhaul. I figured I would use MHS since I planned on buying some Diamond pistons and Manley rods from them anyway.
Going forward, what exactly causes the valve guides to wear? Is it excessive heat? Once I get the heads redone, I would like to avoid or minimize this issue in the future. Thanks guys.