Ecessive oil consumption and High Idle
 

1986 FC N/A Sport Model (Stock motor w/ high flow cat and mufflers)
Problems: see title
Disclaimer: Ive searched but now im just looking for opinions to better my decision on a fix.
TlDr - burns a lot of oil, idle stuck at 1500, goes into limp mode after driving for a bit.

Hey everyone! Alright so I bought an FC months ago that had been sitting for a while (years). Ive done a ton of work on it and its finally "road worthy".

1: So I changed the oil/filter about 140 miles ago, using Castrol 20w50. I checked it at the gas station (oil level) yesterday and it was half way between L and F. When i start the vehicle after sitting for a day (sometimes even a few hours), I get the Blue smoke that comes with burning oil. I know a little is normal but its like a chimney at first. It lasts about a minute and finally burns off then no problem from there. Ive read it could be the oil control rings or the oil injectors. Wouldn't it continue to smoke while driving if it was the rings? Maybe the oil injectors are leaking as it sits overnight?

2: The Idle. When i start the car it goes through the usual warm up process, 3k, drops down to 1500 but then stays there well after the car is warm. its a consistant idle with a few back fires. I am going to check the tps and cas this weekend but most of what Ive read pointed towards the thermal pellet. The screw on the intake manifold has little effect.

3:And lastly the car will go into "limp mode" occasionally after driving for a bit. It'll bog down between 2800 and up if i give it full throttle. When it happens i can pull over and reset the ecu(disconnect battery and hold brake) and it returns to normal pulling hard all the way to redline. this will last about 5-10 mins then back to surging on anything but minimal throttle. Ive reground the ecu and all the other grounds in the engine bay. Im stumped. could this be because one of the other issues im having? Sorry for the lengthy post fellas. thanks for your help

Would a bad OMP cause they excessive oil burn?

Highly unlikely that the Mechanical OMP would go bad.
another thing is that the 86 will not put the Ecu into "limp Mode"..The 89-91's did that mostly due to the Electrical OMP.

Now,you said the car sat for a couple years so I would be inspecting the fuel system.Especially the sock on the pump in the tank,the condition of the inside of the tank and the Main fuel filter itself.

Funny thing about Crap being sucked or pumped into a small pipe...if the pressure is decreased(car shut off) the crap will fall out..
Get where I am going here?