No, it is not a bad head gasket. If that is teh case, the reserve tank would overfill whereas the radiator side would be low on coolant. You have a minor leak somewhere and the best way to go about is to have a pressure test performed to locate the source of the leak. It couls be hose joints, water pump, radiator cap, heater core.
As to the smoke, if it is burning up oil, most probably the valve seals are bad and the return passages for the oil could be slightly restricted and not allowing opil to return quickly. These would accumulate around the valve seals resulting in additional oil getting to the velve seals.
Wednesday, May 2nd, 2012 AT 3:22 PM