I have a K100RS4v sister ship with 120,000 miles. It sat for a couple years before I got it, and it appeared to not have been very well maintained before that.
This bike uses oil, a lot more oil than my K75's that go at least 3-4 thousand miles on a quart of oil. When I got it, oil usage was about a quart every 6-700 miles. While it doesn't smoke after the engine warms up, I have been told there was a definite scent of oil when other riders followed me.
Compression is good and uniform across all cylinders, so I didn't suspect rings. I replaced the valve guide seals, and the head gasket. Oil consumption decreased slightly to about a quart every 850-900 miles. Better, but not as good as my other bricks. I replaced the rear main seal and the o-ring which was leaking when I did the seals.
Right now I am thinking the oil control rings are shot. I have put over 12,000 miles on the bike now and done Seafoam flushes and use Rotella T6 with no further improvement. At the rate the bike uses oil, I can buy enough T6 to keep the oil topped up for about 50,000 miles for the cost of parts for doing the rings. Why bother to fix them?
My daily commute is about 105 miles, and every morning I add about 4oz. of oil as part of my pre-ride check. No big deal. I also carry a 12 oz. bottle of oil in the cowl for longer trips.