Re: Bad ignition coil?
This looks as bad valve stem seals. With the engine off, the oil can pass by the seals and will burn at startup. If it are really the seals, you can especially see it when letting off of the gas. The extra suction created by the closed throttle valve, will suck extra oil through the seals and that gets burnt.
Changed the seals on my engine, some time ago, was a hell of a job on my own, but i managed it. Probably a lot easier when you have a pair of extra hands.
I made a tool myself to compress the valve springs to remove the keepers.