... I think. I haven't done a compression check.

I have a 2000 540i with 154k miles. It has a slightly rough idle when the engine is cold but other than that it runs great. It isn't losing coolant and isn't losing much oil but often at start-up it blows out a huge amount of oil smoke.

There is no coolant in the oil and no oil in the coolant reservoir. This has been going on for about 4 months. I just bought a new car to replace it but I don't want to give up my 540.

Does anyone have any idea about what I can check to find out what the problem is? I know the valve cover gasket leaks but the smoke is from the exhaust pipe and not the front of the engine.