I just bought an 01 600f4i. I knew it smoked bad and guessed head gasket which would be no problem. Dropped out the engine and tore it down. Head gasket showed no signs of being blown out. I pressure tested the oil cooler and I'm having the head magnafluxed to check it. Just wondering if anyone knew of any problems other than head gasket/ cracked head that could cause this?

 

on gsxr's the water pump seal tends to leak, have u checked that

 

Worn rings/cylinders, leaking valve stem seals.
If the oil is fresh it can smoke white.
It doesn't always have to be coolant. I've had plenty of oil cooled bikes that smoke white once they get higher k's and too much abuse.

You've got her apart so get the cylinders honed and throw some size C pistons in there.
You should replace your valve stem seals regardless but your valve stems may also be worn so you should measure them to spec and see if you need new valves. Either way I would also recommend lapping your valves. It will breathe new life into an old engine

 

Also what did your oil look like when you drained it before it came apart? Was it white and milky or normal looking? This will give you a good indication if there is coolant in your oil

 

There is still good cross hatches in the cylinders. I'm planning on lapping valves and replacing valve seals while its apart. The oil looked normal just very thin and it drained out over 5 quarts. Also when I drained the coolant only 2 quarts or so came out of the whole system. The guy I bought it from told me it had just started smoking

 

Trash the motor and buy a used one. There a dime a dozen

 

Sounds Like Someone was running to long on one wheel
and didn't do the Air Cleen Mod...