Appreciate the replies and experiences.

It is both burning and using oil, but the oil use isn't horrible. It smokes particularly bad once it is warmed up.

It even smokes heavily at idle, waiting at stop-signs and stop lights, but also when accelerating. Not as much when I first start the engine (cold) but heavily when I re-start it after it has been driven a while.

I bought some new valve-cover gaskets and an on-engine valve-spring compressor. Already have the air-line to hold the valves shut while pulling the valve-keepers/retainers/springs.

Valve-Stem side-play in the valve-guides is supposed to be 0.001 to 0.003 according to the Jeep FSM.

I'll inspect the guides and seals as best able and may try to squeeze two valve seals onto each valve-stem of the affected cylinder.