Thank you for the useful replies and comments.
I believe the vehicle has genuine mileage because it just doesn't look, feel, or sound like an very high mileage vehicle..but then again who knows. When getting a used vehicle in old models, this is something you're signing up for, no? About the water pump, it wasn't very very leaky, and the engine wasn't reducing any coolant either..got it replaced just so wouldn't have to do it again later.
Either way, we're past that point now and overall i'm happy with how she runs..OVERALL haha 

Ill get the oil pump and lines checked for restrictions next soon yes. But i think that requires quite a while to get to. It won't hurt to run it like this for the next 5-10k km i hope. Nonetheless it shall be checked whenever possible.
Trying the short interval oil change approach. Shall cut open the filter to see what its like from the inside on next oil change. Keeping it on 50/50 octane/super mix for now. That can be changed though if i can find a better mix ratio.
Keeping a keen eye on oil and coolant levels. Its been 3 days since getting it done and changing oil and coolant. The car has been driven around 300km with no visible oil and coolant reduction. Always warming up the car before running it. That's like a standard practice. Unless time is short, in which case a couple of minutes to get the oil running is fine perhaps?
The exhaust does give some white smoke (which does smell a little..strong.. Please elaborate what you mean by funny) when the engine is cold but it disappears as operating temp is reached and as far as ive assessed theres very little to no exhause smoke when running). The plugs were replaced by previous owner. Genuine denso spark plugs are running (the two point ones) and there are no signs of wear or color changes on them as of yet..
Apart from that, adding ATF to oil isn't too bad for the engine is it? I've read many positive reviews about that if used in appropriate quantities. However, if anyone here with personal experience could further clarify it, it'd be very helpful. Im just a bit reluctant because never tried it before. And just maybe i can push myself to do it. I'm pretty sure nobody wants any leaking seals, specially internal ones. They're a pain in the ass to replace i reckon
Regards.