2002 7.3 runs and blows blue smoke at high idle first 5 minutes
 

When my truck first starts it will only not stall if you floor it for the first 5 minutes and blows out blue smoke and then after it runs and drives normally .

Floor it, as in 3500RPM's or better... Please stop.

What does it do if you dont do the worst thing you could do when you start it?

should have said half throttle, also I run the truck every other day.

its not good to do that it puts strain on the motor let it idle and warm up its probably because its not warmed up so it will run odd and like he said dont do that its terrible for your motor.
also try some diesel fuel injector cleaner...

Check your blow by. sounds like youre lacking in the ring/compression department. Rings expand when it warms up and closes the tollerences so it quits burning oil/only half burning the fuel. Im betting its motor time.