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Hey all!
OK, went to do a t-belt replacement on this car this weekend. Figured I'd go ahead and remove the cam and lifters while at it....
Found the problem for the missing oil was: A bad valve guide. (The prize goes to Pauli (Sped) and everyone gets to share secopnd place for their great suggestions.)
Seems the car was most likely, as I feared, overheated and the valve train was damaged. THe valves are terribly out of spec which I thought was strange for a relatively low milage car.
Apparently, it's only a problem at higher RPMs which is why a traditional compression test turned up nothing out of the ordinary, and why it didn't seem to burn oil. It did burn oil, just at higher RPMS and thus higher speed where the smoke was diluted by the airflow to the point where it wasn't seen.
SO anyway, I'm replacing the head, and debating whether to do the pistons as pauli suggested. I'll let you know how it goes.
Regards and Many thanks,
Fred
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