The 3GMF has been a great motor over many seasons in my 1983 Hunter 34. She has had lots of love and tender touching during my tenure (third owner) and currently has under 2k hours (according to the gauge). She starts and runs ok at lower RPM (750 idle > 19K). No issues when I leave the dock and motor away from the marina. No sign of any noticeable exhaust smoke. However, when I push RPM up higher (25k > 27k) to reach cruising speed, within 5 or 10 minutes the engine begins to have a subtle change in noise and then I see blueish exhaust smoke. I back off the throttle and engine appears to run normally again (blueish smoke disappears). I immediately suspect cooling issue and checked the raw water fresh water heat exchange by hand. The engine did not seem to be too hot and the temp sensor did not alarm (tested that and it does work). I thought at first that there was possibly a cooling system obstruction issue that only causes problem when the engine is at working load, since I did seem to feel that the cooling water discharge (splash) was not as robust as I felt it has been (one of those gut feelings). Now I have gone though the cooling system stage by stage and find no obvious reduction in cooling water (raw or fresh) flow. I read about the cause of blue smoke but I am not convinced that engine is due for some serious Ring and Piston work. I had a boat neighbor that mentioned similar issue where his motor ran find at lower RPM but would start to run rough at higher RPM and he could not achieve normal running RPM. He eventually discovered his issue was this muffler. Apparently the internal baffles had corroded and collapsed cause exhaust obstruction and increase manifold pressure. I have decided to take this opportunity to replace the exhaust header and elbow riser. Just wondering what the community thinks of this issue and most likely causes.