well saying it smoke is a under statement, it makes a cloud of white smoke , a big one too

compreesion is about 180 a cross the board, the left rear plug is wet, and it is using oil,

valve seals? do something like this?

or head gasket?

or cracked head?

or trany module?

Sounds like it is burning coolant, is there oil in the coolant or vise-versa? Are you using coolant?

Could be a cracked head, warped head or bad head gasket.

I would go with the headgasket as well im afraid.