Did this problem get solved. I have a 51 plate Mk3 Mondeo Petrol which failed MOT on emmisions and was told it was probably valve stem seals. The exhaust smokes badly at around 2000 revs but engine runs fine.
I have recently finished replacing stem seals and replaced some tappets, then replaced coil pack as the engine was only running on 2 cylinders after the rebuild. All cylinders are now firing and engine running ok but engine still smoking.