smoking 340

I have a 67 Barracuda with a professionally built 340 that has been bored and stroked to 417 cubes. Dyno'd at 471 HP 533 torque and it appears to make every bit of that, easily lighting up both big BF Goodriches through a Sure Grip rear end.

The motor was built in late 2006 and all indications it was run little if at all until I bought the car in early 2011. I've put about 250 miles on it and blows blue smoke especially over 2000 rpm, when it blows alot. Of course there is excessive oil consumption.

The number 4 cylinder fouls periodically but the other pluga have a normal burn pattern.

Any comments on hte most likely cause and the most efficient way to diagnose and fix this would be most helpful. I plan to have a well respected engine shop to the work but want to informed when I take it in.