85k mile stock engine, stock turbo, i/c etc.. Installed Cottons 2.5 exhaust, 65lb injectors, tt chip setup for 24psi and alky, alky kit, hot wire, cold air kit, adjustable waste gate, 3 bar map, put boost at 20psi in small increments while monitering scanmaster, everything was xtra safe. Alky was set high, o2 volts staying in the 750-800 range, knock stayed 0.0 for all runs, boost was set below what the chip was designed for, felt strong on all pulls, slowly getting in to it in 2nd and 3rd gears, then I floored it in first, followed by a backfire thru the intake and plumes of oil smoke.. You can hear combustion in the valvecovers. Head gasket? Or worse?