Car smoking on start up with high idle

My sw20 mr2 with the 5sfe seems to smoke on startup when it sits for a week. It also idles high (2500 rpm. It smells like it might be oil more than coolant, but the smoke looks more white than blue. After about 5-10 min, the smoking gradually stops and the idle begins to lower itself down to 1100rpm or so. I am thinking it is the valve stem seals as they are know to be an issue on this motor at this age. Any other ideas? I am going to try and pull the plugs and take a look at them when I get a chance.

Yeah, I'd just pull the plugs and check.

Did you notice any loss of coolant?

Added some coolant not too long ago, but it was,my first time checking the level after I bought the car. I am keeping an eye on it at the moment to see if the hg is the problem, but I don't drive the car that much with the cooler weather and there are no leaks on the garage floor.

Most likely valve seals. Have someone follow you and check if it smokes under engine braking.