Mystery continues...
Firstly, thanks again for all the advice. I have not check the fluids today, but will tomorrow.
I just took car out for a quick spin, about the exact same distance/time/weather as last night, 6pm, 2 miles or so, round trip, 70 degrees, 5-6 stop and goes. Whereas last night the entire way home, I noticed smoke every time I accelerated from first gear, tonight was just the opposite: no smoke at all.
Tonight, I did not warm up the car at all. On the way out, before the car was warm, I noticed only very slight smoke, almost none, and when accelerating past 4,000rpm, it had a hesitation at about 4100rpm, which I chalked up to not being warm and expected, but caught me by surprise nonetheless. On the way home, I tried to engage the choke before leaving by fully depressing the gas peddle, but it did not seem to engage at all since no noticeable impact. The car drove amazing on the way home, all 1 mile but 5-6 start stops. No smoke. The car was slightly above the blue line on oil temp, although it had been sitting for over an hour during dinner.
Is it possible that all of this has something to do with my inability to set the chokes properly, and all I need to do is study the owner's manual??? I don't think it can be that simple, but just saying... something doesn't make sense. Engine drives too good for there to be something seriously wrong, and blowing smoke problem seems intermittent at best.
Not sure if this helps or not. Getting compression numbers this week and base-lining all the key fluid levels including brake, coolant, and oil. I am going to also try oil additive MMO. I don't think any harm can come of it.
Otherwise, seems next step is to get a valve job, although I am not sure there is a mechanic I could trust to do this locally. Is this something I should bring to a BMW dealer to do?
Thanks again for all your help.