Carbed 2.3t smoking issues

[02Z06]

Ok, just went through a lot of pain and suffering to put a rebuilt AiResearch Turbo on my '80 Cobra. It was a PITA but I got it done. Start the car up with new exhaust on it, and a new midpipe with no cat to help the turbo out and it runs great, but after about 5 minutes of running and driving the car starts to smoke heavily. It smells like Oil, but is burning white...
So far I've
-replaced the turbo (because the seals were out on the old one and the shaft was wobbling)
-Checked the compression, 90 in all cylinders except on is at 100, almost no leakdown on them.
-taken the PCV valve off, and just left the line open to see if it was over-pressuring the crankcase.

And still it hasn't stopped. Any ideas? It runs really well, the turbo spools and everything but I just can't get it to stop smoking. I figured maybe someone with a pace car or another carbed 2.3t might have been through this. Thanks in advance.

[02Z06]

Oops, wrong forum

[gregpro50]

Still sounds like the turbo to me. Thats exactly what my turbo Indy does. It runs perfect but after a while it will start to smoke out the neighborhood.

[02Z06]

I sure hope it isn't, I just put a $500 new one on there. Guess I need to take it back off and check the seals.