Blueish White smoke at start up...

[Monkeyman]

When you shut off your engine your valves are no longer being actuated (opened and closed) by the camshaft, so one or more stay open, leaving a small space (develops as the valve seals wear) which oil drips down and into the cylinder. It is that small drop from which your startup exhaust smoke is blue. A puff of blue smoke on start up is nothing to worry about, but in the future you may need new piston rings and/or more likely valve seals both of which are nessisary replacment parts for a rebuild anyway (10's of thousands of miles in the future so long as you are getting full engine power now). It is nothing to worry about. The electric smell on the other hand should be investigated. If you don't it could cost you your electrical system (big $$$$ to repair).

[Hefty]

I agree with Monkeyman somewhat - It sounds like oil it getting by your valve seals. Its frustrating because the actual valve seal part itself is very cheap. It is just getting to the valve seal basically requires that the entire valve train be stripped. In the old days, if you had a hydralic pushrod motor you could tinker under a shade tree and replace the valve seals yourself by snaking a longish peice of thin cord into the cylinder through the spark plug hole to hold the valves up. Then, use a socket and a hammer to release the valve stem locks. Slide a new seal on and compress the spring and replace the locks. Tighten the rocker arms back down and done. Engines now days have to have the valve lash set and spring tensioner bolts and what not.

BTW:

Blueish-white smoke that falls to the ground fast= Oil/piston blow-by/valve seal leak/head gasket
White billowing smoke (steam) = Coolant/head gasket/water in gas
Black smoke = Gas/Rich condition/dropped cylinder
Faint puffing white smoke = Nitrous

I dunno to me oil out the tailpipe could be described as an burnt electic smell i guess.

[SC V6]

another way to check for blowby is to take the front hose that goes from the front valve cover to the intake, and see if it has a suction.. if it is blowing air out rather than sucking.. thenyou have blowby