My 99 cobra a couple weeks ago started to smoke when I would start it and it will really smoke when I floor it or just letting off the gas. Some of my friends are telling me they think its valve seals but I dont think its gonna be valve seals with 69000 miles on the car. Does anyone know what this could be?

 

Its very possible its the valve seals if you've run JUST straight pipes or headers.

It really depends on what color the smoke is. If its white, its most likely a cracked head gasket.