Rings or problem with my Pcv valve?

[Shelby zoom]

I just purchase a 1987 Shelby Z Daytona and I had to do the normal tuneup and the got it running great. Well the car would puff a cloud of smoke when you I would shift up into 4th and 5th. The car runs excellent so I didn't suspect the rings being shot. Talked to some people and they said check the pcv valve and it didn't have the correct elbow on it. They just had the pcv valve hooked up without the air tube from the box so I went to the Dodge dealership and got the elbow put it on and wow the runs perfect but now it smokes badly at idle and not when you are on the throttle!!!! I mean it gets so bad it will run you out of the car but long as you have the rpms up it doesn't smoke. I have already purchased a ton of parts to hop the car up computer, injectors, fuel regulater, new 3in exhaust ect. and now I am afraid I have serious problems. Is there any reason it would do this besides the rings? Before the car didn't smoke at all at idle. Any help would be greatly appreciated.

[NAJ]

What color is the smoke?
White with a sweet smell is coolant and probably means a head gasket problem.You may also have a white milky substance in the oil and oil cap,that would be coolant in the oil.
Blue smoke would be oil, could be numerous things,Valve Seals,Internal Engine,I have never seen a PCV System problem cause smoking like you are describing, remove the breather hose from the air box with the engine running,if there is a lot of smoke coming from that hose it is probably an internal problem,you will have to run wet and dry compression test and cylinder leak down test to verify.
Also remove and inspect the spark plugs for oil fouling to determine if it is one or multiple cylinders.
If the smoke is black the vehicle is running extremly rich.

[puppet]

Good advice NAJ.

[Shelby zoom]

Well, I know its not rich becuase its a white smoke and plugs look excellent. You can smell an odor to it, but here is the weird thing it is now starting to smoke around the turbo and out the exhaust. Once you go down the road and get rpms up it totally clears up!! So I wouldn't think its the rings becuase it would just get worse with rpms. Maybe I should run a compression check but man the plugs looked perfect with just a light hint of tan to them. The engine still runs great and holds good vacumm and idle quality. I am wondering if it is a turbo problem but the boost still kicks up like it should.

[NAJ]

If the smoke is "White" it is coolant and is probably a head gasket.
Does the "Odor" smell "Sweet" like coolant?
The plugs will be clean because the coolant/water you are burning is helping to clean them.
Unless the head gasket blows between 2 cylinders compression will not be affected.The gasket usuallly fails at a corner where it seals the water jacket.
Also check for a "White Milky Substance" in the oil or on the oil cap which is a definate indication of coolant in the oil.
Mine started out as adding small amounts of coolant to the overflow every couple of weeks then one day coming home from work BOOM,Plooms of white smoke, severe engine misfire,temp gauge pegged hot and a tow truck.The gasket failed at the outer corner of #1 cylinder,was pretty obvious when I removed it.

[Shelby zoom]

Thanks for your help it is greatly appreciated, I will check the oil for moisture and then I know where to go from there. Thanks