Burning Lots Of Oil...discouraged

You guys have helped me out alot the past couple of threads, and havent come across a similar issue so here it goes...

New 302 build, stock bottom end, re ringed and new bearings.
X cam with comp springs
Gt40 heads and intake
Boltons etc..... still N/A

Car has a slight blue haze at idle.....if you give it gas in neutral, when the rpms drop it puffs quite a bit of smoke.

Doesnt burn a whole lot just commuting, but when you beat on it (last night for a good 30 minutes or so, made 5 or 6 runs) and drove it home this morning 250 miles, i lost about 1.2 quarts. Compression is 130-140 across the board.


Thoughts?

Im almost positive they were steel rings that I installed, and it has been about 1500 miles sincr rebuild. The car makes great power, im just upset because i spent so much time on this car....and i want to spray a 100 shot as well, now im debating on it.