Calling all 22RE Guru's

1989 4Runner, 560,000km, Rebuilt 22RE with 130,000km on it.

I’m looking for some opinions and advice before I start sinking money into this.
Runs great, no loss of power but I noticed it started blowing blue smoke while riding the gears down approaching red lights and stop signs. Not under acceleration, or crusing. So I assumed it was worn valve guides. I have replaced the valve guides and it is still doing it but now I’ve noticed it is also blowing a little at idle. I did a compression check. I took three readings on all cylinders. The fist number was the first big jump at the start of the test (the first compression stroke), the second number was after approx 5 strokes and the last was topping out at approx. 10 strokes. Surprisingly, cylinder 2,3 and 4 were almost identical (+or-3) at 100, 170 and all topping out at 190-195. cylinder 1 on the other hand was 80, 140 and topping out at 152.. I was told if you squirt some oil in the cylinder and retest it, a cylinder with bad rings will show a dramatic increase in pressure. So I did this and got the exact same numbers as the first time. My manual calls for a pressure of 171 (standard) and 128 (min). Even though #1 is way out to lunch compared to the others, it is still within spec. I would like some thoughts on this. Are the rings fine and my problem is in the valve train? I’m thinking of sending the head out to be rebuilt but don’t want to throw money away if it’s something else. Should I be looking elsewhere?
(all ready replaced the PCV)
(sorry for the long post)
thanks in advance

did you replace the valve guides or the valve stem seals, you have to take the head off the car and valves out to replace the guides themselves and then regrind the valves. iy your guides are worn badly the seals won't stop the oil getting past them but your compression readings are off, the top and bottom cyl should be within 15% of eachother and they are not. was engine up to operating temp when you did the test? also you need to have all the plugs out and floor the accelerator when you crank it over. with one cyl that low i would replace the rings myself as well as getting the head rebuilt if your going to keep the truck or take head off and see if maybe the valves in the one cyl are leaking some. machine shop can test it or you can have a shop do a leakdown test to see where lost pressure is going

thanks for the response
Just the valve stem seals were replaced.
engine was up to temp, all plugs out and open throttle for the compression test.

When my 22R engine failed I didn't know where to go to find a good engine. No one had a good used one. I found Engine World Inc in Houston who sold brand new 22R. I bought from them last month and I'm glad I took that decision.