In my experience, the scene you describe means valve guides are going.  When
you let off of the gas, a (relative) vacuum sets up in the cylinders,
pulling oil by the guides and burning blue.  Not sure how the PCV/EGR valve
would cause this, since I don't think it goes into the combustion chamber?
Maybe if there was enough vapor being pulled back in through the air
cleaner?
Hmmmm....
bmc :)
"Faith will move mountains, but you'd better bring a shovel...."

> From: Jon Joyce <okartguy@HOTMAIL.COM>
> Reply-To: Jon Joyce <okartguy@HOTMAIL.COM>
> Date: Thu, 28 Feb 2002 19:01:23 -0600
> To: vanagon@GERRY.VANAGON.COM
> Subject: It's smoking! Help!
>
> Guys-
> On the way home from work in my '81, I noticed a good-sized puff of
> bluish-white (oil) smoke in my rearview mirror while upshifting. No smoke
> while driving, only after I let off the throttle to clutch. In the drivemay
> at home, I turned the throttle by hand (Weber prog. conversion), and
> observed smoke when I let off. This just started happening today (AFAIK),
> and the van hasn't been using any oil previously. The motor has less than 3k
> on it, and I adjusted the (hyd.) rockers one full turn past .006 last week.
> It's still "ticking" more than I'd like, and I've read horror stories about
> dropped valve guides etc. My father suggested I check the PCV/EGR valve...
> is this a possibility? Or do I need to plan on a teardown? What's the best
> case/worse case scenario here? /me buries head in hands and sobs...
>
> JJ
>
>
>
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