1996 2.5 165,500. Never overheated, all maintenance as per manual since new, never abused.

At idle after the car is warm, if I blip the throttle, I get a nice puff of smoke come out of the tailpipe. The car is running great, no Check Engine Light, same fuel consumption etc.

The smoke is a lighter color which I know is indicative of a head gasket. Coolant and oil are very clean.

My mechanic said he thing either the piston rings or valve seals are going bad.

Does this sound right?
Anyone else have this problem?
Should I drive it till it dies?

 

check your oil once in a while to see if you losing oil..if it is then you need new vavles and rings

 

I have been fighting oil leaks for the past year (cam seal, distributor and valve cover), so it was hard to tell. I think it is all sealed up now. I'll keep an eye on it.
Question:
What would be an alarming rate of oil consumption?

How long could I drive like this till the motor needs rebuild?

Thanks a lot!