I've had a couple people riding behind me say that there is blue smoke coming out of my exhaust when I get on it. Blue smoke usually means burning oil right? I guess this means 944 HC's this winter , and summer full of burning oil
you can pick up a cheap compression test kit from harbour freight for less than 20 bucks. I'd start by checking the comp, and determining whether its the valve guides or rings,,,,hopefully the smoke was just a fluke and your compression will be good .
A compression test is a good start but I would suspect valve guide issues before rings.You give no info on the age or condition of your bike and if it is fairly low miles I would try to determine how much if any oil it uses.Bluish smoke can also be indicative of an overrich fuel mixture.The plugs can tell you if oil is being burned by whitish crusty type deposits on the shell and center electrode insulator.By all means start saving for the 944 kit as it is easily more justified if there really is a problem and the guides can only be serviced with the heads removed anyway.
If it is running too rich you might have to spring for those Keihin flatslides too.
Do you have to add oil to the crankcases between oil changes?
Just remember witnesses are notoriously unreliable. But for arguements sake, the smoke could be because you are a tad rich, worn valve guides/seals, worn rings (probably not), or a combination.
Also remember that the flatslides will dump hug amonts of fuel into the combustion chambers if your throttle style is of the whack-it-wide-open religion. Smooth roll-ons allow the engine to respond without dealing with momentary over-rich conditions before the RPMs rise.
Whatever the cause, it should be relatively minor to correct. Do not succumb to the idiocy that has gripped many people and figure that it isn't worth putting a lot of money into "an old bike like this" The correct philosophy for calculating the correct amont of money to dedicate to a 91-97 Supersport is as follows: How much? Do you accept checks? Repeat as necessary.