Please throw some ideas at me

[littlekpd]

So my g9 is smoking. replaced the valves and lapped them in replaced the gaskets ( head, valve and exhaust) but when I fired up I still have oil in my exhaust which is still causing my smoke. my compression is sitting about 170 and holding.
1. What is the clearence on the intake and exhaust valves?
2. By the dipstick I'm a little over the max line, could it be to full?
3. it only smokes when its cold, once warm almost no smoke at all
I'm having a hard time believing it could be the rings just because the compression is so good and holds. I just wanted to pick a few brains and see what ya'll think.
right now my intake clearence is about 4 thausand and my exhaust clearence is about 25 thausands ( almost push rod fall out) (could that cause my smoke)

Please help with what you know
Thanks

[Dave in VA]

Is there oil in the air box? Drain and refill with 1 quart only, 10w-30. Valves should be set at .004.

[G1-G9]

Like Dave said one quart only. you may need to re-mark your dip stick.

[TheNewGuy]

Yep, some dip sticks were mis-marked at the factory.

[littlekpd]

So there was way more than a quart in there. I emptied and refilled with a quart. and ran it for a while to burn off any extra oil floating around. when I came back to it after letting it cool and started back up the smoke was alot less but still just a little. so I'm thinking its either a little oil still floating around in there or its the exhaust valve setting. I'm going to reset the valve tonight ( right now its about .025 and i'm going to bring it down to around .004. Would the valve being to far open cause any smoke or would is it just the fact that I could lose a push rod?