New Engine Smoking! Help :/
 

Whats going on guys, I just put a forged engine in my 97' Miata and now its smoking. Here's some back round. Its a 95' block bored .040" over, Wiseco 8.5:1 pistons, Manley rods, ACL bearings, ARP fasteners, Cometic head gasket, Boundary oil pump, blah blah blah. The head is completely stock. I just lapped the valves and threw new valve seals in and called it a day. All of my clearances are in spec, bearing clearance, piston ring end gap, etc. I'm running a kraken manifold + downpipe with just a CXracing 2860 for now. I don't have the cold side hooked up yet until the motor is somewhat broken in.
I let the oil prime before the first start, and even changed the oil and filter before I started it. Using Rotella t4 for break in. Started up like a charm. Minus the very loud lifter noise.... I'm assuming they need to bleed out first. I let the car warm up and noticed tons of white smoke coming from the exhaust. I figured it's because of all the fresh parts... but it continued to smoke.. like a lot.
I took it for a little drive to see if it would clear up, it sure didn't. So now I'm concerned. A compression test was my next thought. The results came back phenomenal. 175. 165. 170. 175. So it most likely isn't rings I'm assuming. Maybe bad valve seals? Bad turbo? Turbo return to small? Turbo feed restrictor not working? Oil to thick?
I would love to hear some feedback as I am puzzled on what to do next. Thanks guys!