Smokey exhaust on start-up

[SanRafaelFaz]

My engine is fully within spec, new timing belt, carb gone through and cleaned, valves adjusted, timing spot on, electronic ignition, etc. Runs good and strong and starts up with the slightest turn of the key. However, on cold starts I get a lot of smelly exhaust blowing out. Once she settles down, it clears up, but I have to say, it's almost embarrassing to let her warm in the driveway blowing exhaust down the street. She doesn't leak nor burn oil. Can this be a carbon build up? I haven't really driven it much since getting her back on the road. She does sit for a week or more at a time, too. And what driving I do is more of the back road type stuff.
TIA!

[azruss]

I put my money on worn valve guides and seals. Do you get smoke out the back when you let the engine compression down. I'm also assuming the smoke is blue and not white. (blue being oil and white being coolant)

[124JOE]

yep valve seals
mine does it a bit also

but only smokes for the first min

[ga.spyder]

I third the motion...valve seals.Mine also does it for the first few seconds after sitting for more than a few days.The oil in the cam boxes seeps down past the worn seals,into the cylinders.On startup,it burns out of there.An annoyance,but not a huge deal

[SanRafaelFaz]

Thanks for the consensus. The "smoke" is actually more of a grey-ish, almost like there is condensation present and it doesn't smell like oil. At any rate, what am I looking at to replace worn valve seals?
Dumb question, does the head have to come off?

[ga.spyder]

It could very well just be condensation.These cars dont build a lot of heat,and when not driven frequently,condensation does tend to form in the pipe.In cool weather,mine has grayish vapor type exhaust until the car is up to temp.
The head would have to come off and go to a machine shop for a valve job.I really dont have a clue on price,but if you bring the head to them,it cant be too bad.Mine has had the worn seals and slight smoke on startup for years