87 gxl tii jdm same year swap. omp, emissions delete.

finally got it out of limp mode after the swap by making the trouble code light and replacing the maf.
was excited and decided to take a vid, the phone screen was very laggy and I was watching tach through the screen. reved it high and fast think i hit fuel cut and tons of smoke billowed out the exhaust. starts but blows tons of smoke (not sweet smell) and leaks oil out test pipe. think an oil control ring or something went bad and time for my first rebuild. just wonering if someone experienced can confirm time for rebuild. thx