Big Problem or Little One?

["Duggins, Patrick J" <pduggins@smtp.orl.usace.army.mil>]

     Does anyone know what can cause blue smoke from the exhaust?  I have a 
     '71 TR-6 that grandpa left me with 37,000 original miles.  I thought, 
     at first, that it could be that I needed new valve covers but, I 
     replaced them and the problem persisted.  It seems like I have tried 
     just about everything I can think of.  Any help would be great.
     
     Thanks,
     
     Patrick Duggins
     1971 TR-6(nearly restored)