OK, lets play detective. The smoking started only once I put the PCV system in. Had it been a bad hone job I would have seen evidence of this earlier. (I have owned the vehicle for over a year now and I drive it as much as I can).
Another "clue" to think about. I had the carb "tuned" by a local carb shop at just about the same time I put in the PCV system. I'm not sure what they did to the carb.
How fast does it take fuel to wipe out rings?