Engine needs a rebuild?

A question... had major carbon build up on the plugs after the seafoam treatment. Changed plugs, then did a tune up that included new points, distributor. Adjusted the choke and the car was idling better than ever. Did a compression test and all cylinders are great.

Drove it 100 yards and it started to run like garbage again and smoked a ton. Checked the choke and it was fully open after being warm.

What do u think?
What color smoke? It's probably still shakin junk out of the combustion chambers. DRIVE it and see how it does.