Blue Smoke Please help

[hillbean]

Hey everyone I have a SBC that just started spouting blue smoke out of the Passenger side. I have not experienced any loss of power or loss of oil pressure. I am not losing oil yet but it just started today. I am going to start with a compression test to rule out rings. My question is how can I check the valve guide seals without tearing the engine down. My other question is I read that the Vacuum modulator can go bad and cause transmission fluid to be sucked into the intake. How can I test the transmission vacuum modulator. Any other tips or ideas are appreciated thank you for your time.