compression test question

I have a 1975 Lull rough terrain forklift with a 225 Chrysler industrial gas slant 6 engine (!) The engine smokes badly (blue smoke) and burns oil. It does not smoke at start up; it only starts smoking after running for ten minutes or so. The compression readings are 120-125-120-135-145-120. From what I've read, these are pretty healthy numbers and are (just) within the +/- 25psi rule. I'm guessing that the problem is worn valve stem seals. My question is, with these compression readings, should I not even bother with a full valve job, and just replace the stem seals without removing the head? The engine runs like a champ otherwise. Thanking you in advance for input.


I would have a full valve job done and check the guides.