77 kz650 - Issue - white smoke on start up

Hello I finally got my bike out for a spin, it ran strong but I noticed that even after it warmed up there was a small amount of white smoke when I gave it throttle while stopped. I also noticed that when i came to a stop the engine would rev-up a bit and take a couple of seconds to return to idle. I read some of the previous threads related to these symptoms and as such ordered a set of throttle cables and lube. I checked the compression and got the following results:Cylinder

White smoke = burning oil
Could be valve stem seals or rings.  

Hanging idle = air leak
Leaking rubber carb boots is very common

Thank you for the reply, for some reason half of my message was cut off.  
I did a compression check and got the following results. 
Cylinder 1 - 140
Cylinder 2 - 140
Cylinder 3 - 100
Cylinder 4 - 100

What should I be doing with this information?

Did you perform all the various maintanance tasks as shown in the factory manual for your bike?  Valve adjustment?

I did not, guess I will be doing a valve adjustment today...
 

An idle that drops slowly can be a symptom of lean mixture. did you rejet after adding pod filters? if the white smoke doesnt go away after the bike warms and it has low compression its likely getting blow by via the piston rings. looks like a top end rebuild might be on the horizon.

Valve adjust won't fix oil burning, but it might improve compression.

Hanging idle could be lean mixture due to those pods you could do with air corrector jets.

White smoke is condensation.
Blueish smoke is oil.
Black smoke is un-burnt fuel.

Thanks folks for the responses. I did re-jet the carbs after the rebuild and will re-adjust the mixture depending on how she runs with the new shims. I also plan on doing a leak down test tomorrow.  

I had some wiring issues to get through as the horn wouldn’t work and that is required for safety. It’s 40 degrees Celsius here in Toronto and working in the garage is not pleasant as such I am limiting my time. 

I will keep everyone updated. Might need a top end rebuild but that will be a decision for later. Hoping these steps correct the problem

Switching to 20W-50 when it's hot out should slow the oil burning a little.