Blue smoke at startup would likely be leaky valve guide seals, but that wouldn't necessarily explain the high oil consumption. Keep a log of how often you add oil and get a firm grasp on how much you are using. These motors were prone to sludging issues. I would change the oil, and I would probably choose a "high mileage" oil for it's enhanced cleaning and seal conditioning, and see where things go from there.
A small amount of oil buring on startup isn't great, especially on a car with that low mileage, but it's something you can probably live with. The oil consumption, though, is something that needs to be examined.