I have a compression tester you can use - although haven't fitted it to the MX5 yet (with its deep sparkplug wells).
If you are sitting at idle for 10 mins and take off, is there a puff of smoke ? That would also point to stem seals.
One thing you could try is the PCV valve on the cam cover - pop in a known good one (ie. not mine

) and see if that was the cause...
The other thing it could be is the cam-cover's oil vapour thing into the intake tract (ie the other end of the PCV system). My turbo was sucking oil out of the cam-cover when coming off throttle, building up oil in the intercooler, and then 30 seconds later releasing it into the intake manifold - results were spectacular double-plumes of smoke out the back of the car. Nice smoke-screen, especially when the cloud would actually hang there at street level for about 30 seconds. Making it happen at packed bus-stops was particularly enjoyable.
Anyway, I solved that by fitting a catch-can and plumbing the cam-cover pipe into it
It's a small world after all. It's a small, small world