Nice looking car, and great color

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Valve seals tend to leak most in two situations.
1) At startup if car has been sitting a few hours or more
2) At high vacuum in cylinder
When the car idles for a bit then you step on the throttle, that's a time when bad valve seals are likely to let oil in to the combustion chamber.
The color of smoke is pretty blue, so I'm fairly certain it's oil burning, not water/coolant (white) or too rich a fuel mixture (black).
In general (smoke or not) running w/o a cat is going to produce more smell. A side note...the cat converters need to be fairly hot before they actually start doing much. At cold start, they shouldn't cause any more or less smoke than no cats at all. Cat light-off time varies from car to car, but generally after a minute or less of driving, most cats are functional. Some newer cars have functional cats after under 25 seconds of idling!
To feel better, you may consider putting the stock cats back in place and watching what happens. Maybe take a baseline performance measurement on your car how it is now, and how it is with stock cats. You may be suprised what you find.