Went out and started the bike the other day, I do this about every 2 weeks if I don't ride it. Last time I started it the bike blew out a major amount of blue smoke for a couple minutes. I mean a lot of smoke! After I throttled it a minute or two the smoke completely dissapeared. It idled normal.

I checked the oil after I started it, while smoking and still cold and the oil seemed to be way above the marks...as if I had too much oil in it. It reads fine when warmed up. Bike runs strong, no weird noises.

But what would cause this? Is this normal?

 

Very good chance the check valve in the oil pump let oil bleed from the oil tank to the lower end. When this happens and you start it will smoke do to all the oil until it pumps enough oil to the tank and equalizes the oil in the bottom end.

If it does not do it all the time it could just be a piece of trash got in the check valve.

 

I rode Iron head Sportsters back in the day. The check valve spring loses tension over time and the ball can wear. I used to replace the ball and spring periodically. They will smoke like crazy when the low end wet sumps from the ball not seating. I had one do it 1200 miles from home one night. I sure felt better when it quit smoking. I rode it all the way home and it didn't do it again.

 

Keep in mind the 77 and later are more like twin cams then the earlier gear drive.