Personally, I think it's about time for a new car.

Starting problem could be a problem with the cold start valve (the "5th"
injector), could be a bad fuel accumulator. Burning oil is to be expected at
210K. Dash problems could be any number of things ... bad ground, flaky
relays, bad voltage regulator chip in the cluster. Smelling gas indicates
there could be a fuel leak somewhere, or a bad evaporative canister, or a
bad tank vent building pressure in the tank, or ...

For 210k, it sounds like your car's running fine.  Use good gas
(premium) and give it a back yard tune up (oil change, plugs,
distributor cap and rotor) for $50.  Check all the wires for frayed
connections and the hoses for cracks.  Check all the fuses.  Clean it
inside and out.  Your car will love you as much as you love it.

Dino oil burns blue. Water/antifreeze is white. Synthetic oil tends to
not make much smoke. Check oil level every time you fill the tank. Or
you could remove the head for a valve job.

Check all fuel lines. Your car could be the next carbeque.

When was the last time you changed your fuel and air filters?
Injectors may need cleaning. If they are leaking then the fuel lines
lose pressure and the car is hard to start and run until they pump out
the air. If they are electronic injectors you can send them off to get
cleaned. Some shops offer on the car cleaning service but if you
wanted to eliminate a problem bench cleaning is the answer. Some folks
have luck running bottles of Chevron.

If the engine and car were properly maintained, your car is still low
mileage depending on where you live. I have owned cars that ran
perfectly with over 300,000 miles. Of course you have to do proper
mainenance or restoration to have one run well if it is 20 years old
or has 300,000 miles on it.

If you are not a mechanic I would guess you could get the car fixed up
for a few thousand dollars. If you were a mechanic I would guess a few
hundred. It depends on how good of a mechanic you were and how fussy
you are.

Sounds like a fuel delivery problem causing it not to stay running while the
engine is cold.
I think your '89 is a CIS-e so it should have an electronic Fuel Pressure
Regulator.
Maybe it is the Coolant Temperature Sending unit.
Cold Start Valve is probably what allows the engine to start when it is
cold.  ;-)

Buy a Bentley repair manual and test the CTS with a multimeter (to check the
ohms) while cold and warm.
You can also check the voltage going to and through the FPR

Possibly an electrical problem with the fuse box causing the dash problem.

Look for leaks for the fuel problem.  Might be a rusty fuel line, leaking
fuel pump, bad seal on the fuel sending unit (and transfer pump) or ???

JMHO