235 six smoking bad

Hi, I have a 235 six in my 59 chevy and after a few years of sitting I got her fired up and running. It ran pretty rough at first but has settled down to a nice idle and runs nice when I drive it. I replaced the valve seals and did a compression check and I get 135 psi on all cylinders except 1 and six which are 125. The problem is it smokes bad especially going down hills and then when I step on the throttle I get a big cloud of smoke. Its embarrassing. My thought is that with good compression like that I might have a stuck oil ring or 2. I would welcome any thoughts toward this problem and what can I do to solve it. I don’t know the actual miles on the engine. thanks in advance…Jim