Well guys, I guess I am going to do a compression test tomorrow. If it is low then I need to know the cheapest way to rebuild. This is not my everyday driving car so it does not matter how long it takes. The way it is smoking and reving up so high at idle it scaring me. Is a rebuild kit the way to go or can you get the stuff seperate or what?

 

It depends on how much of the engine is re-usable and what you want to do w/ engine when you rebuild it.
Bare minimum you need to get a gasket set ($130 from mazdatrix) and a rotor seal set. A kit is the best way to go if you are trying to do it right.