89 Chevy 454 smokes on startup and under load

[wyattglock]

I have an 89 Chevy R3500 1 ton dually that I just bought last Saturday. It has been eventful, new fuel pump on the first day. New plug wires, cap, and rotor on first day. Second day, custom tow bumper made after rear brake line blew out, pics later.
My question is, there is a pretty good light blue cloud at startup and under acceleration. I know this is oil being burned off, but what type of valve stem seals do these engines have? I have replaced all the vacuum lines and put in new plugs. I have also installed a second set of plug wires since the first set was crap. The A.I.R. system was disconnected when I bought it, so I am not sure about EGR function. The timing is good, it is right at 4 degrees BTDC with the ECM unplugged. It runs up to 13 degrees BTDC after plugging in and restarting the truck. I am pretty sure the truck sat for several years, the mouse nest covering the intake and the fact that I bought this truck in Central MI and it has very little rust are pretty good clues to that.
Thanks in advance for the help.