Let's see here. You have a late 6, still 250 per your gallery submission? You're putting great clouds of smoke from the exhaust, and losing oil out of the pan. Somewhere you're getting oil into the combustion chamber. I haven't had one of these late 6s for about 15 years so I don't remember the details externally, but in the chamber, it could only be coming from valve guides of rings. Your compression test was ok, so your rings should be fine. Have you pulled your plugs out yet? How do they compare? All a bit wet and oily or 5 tan with one black? That would be a big step trying to trace to the source. Check that and go from there.
Devin
