What color is the smoke? Pcv valve on car? White/blue? If white,could be the head gasket. Traces of oil in coolant ...??
If blue as mentioned above valve stem seals, wiper seal on piston, valve cover gasket. Sound like your going to pop the head off. Once you have the head off, you can do rings and big end bearings..
Compression test first..
What milleage is yours?