Just rebuilt my K3F and assembled it with regular 30W. No smoke whatsoever under any engine speed or load. In this same engine I once had to replace the #3 rod and I put new rings in with it at that time just as good measure since I had it apart ( hydrolocked the engine in pond accident and bent the rod). I didn't crosshatch the cylinder wall that time and it took about 5 hrs of running time before the new rings finally seated. It had light white/bluish smoke until they seated......just like it smoked prior to putting the new rod in. I was very concerned that the rod or rings were not right, that I still had a some water/moisture in the engine etc. but in the end I am sure it was just an issue of the rings on #3 seating. Ran great with no smoke for the next 5 years/600 hrs until a rod bearing spun ( very thick oil, partially obstructed pickup screen on a cold morning start up was the culprit there).
I'm curious, did you put a fresh bore or finish/deglaze/ crosshatch the cylinders on this rebuild? If not, my experience is that it will take a good while for those new rings to seat.