My 99 evo blows oil out around the head on the front cyl and smoke out the exhaust

I'm thinkin' valve guides are bad

Actually, that is pretty significant discrepancy. Even though it's a flat four and one of the smoothest engines for bikes ever made, that much of a difference IS going to be noticeable. Not only that, it's about 99% a fact that it will not get better, but worse over time.

Since the GL1100's use single over head cams, the valve adjustments are critical. Due to a valve seating a little too deeply into its seat in the combustion chamber the the valve to rocker arm clearence will be diminished, and possibly become non-existant, keeping the valve open just a hair all the time. SOLUTION: Get some new valve cover o-rings gaskets, remove the covers, and adjust all of the valve clearances. If you have a tight one, You'll find it.

You also may have a burnt exhaust valve or a bent valve, causing a bad seal between the valve and the seat, allowing air to slip past lowering that cylinder presure.

Other possibilities are a Blown head gasket (Not uncommon with high millage bikes). Broken piston rings, or excessive wear of the rigns cause ring end gaps to get too large letting to much blow by. Broken Rings or heavily worn rings will be evident by blue smoke in the exhaust from the oil getting by the rings. Blown head gasket can allow coolant to get into the cylinder, or into the oil, making the oil foamy and brown. In either of these three possibilities, the heads will have to be removed. And depending on your findings, a engine overhaul may be needed.

Before pulling the heads however, get a scope that goes in through the spark Plug hole to view the inside of the cylinder to look for scoring, piston damage, etc.

Best of luck

I'm sorry to say your engine may be cooked.
Since you are adding both oil and coolant, and the color of the smoke is gray or white, you have the signs of the engine burning coolant.
The common cause is a leaking head gasket.

You are burning coolant, the head gasket can be put on Wrong, If your looking at the engine the right rear corner is the only oil passage for the head, you will see a difference in that corner of the head gasket. If your sure that the gasket is on right you may have a warped or cracked head or improper torqued head, all head bolts MUST be replaced when you do a new gasket cause the bolts stretch when torqued. The spec is 25, 50 then 50 then 1/4 turn for the bolt torque.. Make sure u start from the center of the head.

is the smoke from the exhaust?or just the front of the engine look for a oil leak from the head gasket

2 things here, using oil & white smoke,
1. i would use a product made by seaform called motor tune-up, you can get at napa,autozone or kragen, pour contents in oil and drive normal, this product is real good been using over ten years it will clean all the carbon around the rings & pistons and also clean lifters,sludge in motor, run in for about 3 weeks then change oil stuff costs about $ 9.00
2. White smoke out exhaust is either automatic transmission fluid from transmission or slight head gasket problem

Blue smoke is oil and if it's coming from your engine compartment most likely means the gasket on your valve cover either needs to be replaced or it could even be as simple and needing to tighten the valve cover bolts a bit. Oil is leaking from the valve covers and working it's way to your hot exhaust manifold and that is where the smoking is most likely coming from.

Its most likely your rings. They get worn and start letting oil into the combustion chamber. They aren't extremely hard to replace.