I thought it sounded like a blown head too, but why would this happen within 2 minutes of driving at less than 30mph?
I just checked the coolant and it looks fine, normal level and doesn't seem to have any oil in it. I just checked the oil level and it seems high??/ Could this have been caused by too much oil (in conjunction with impeded valve gas flow)? Is the damage permanent? I piped it straight to the turbo after the first couple minutes but it was still smoking like crazy 30 minutes later, and throwing oil like it was all sorts of angy. The oil pressure gage shows "normal" amounts of pressure, but then again it pegs whenever I push the on the throttle, so it could have excessive amounts of pressure, just not at idle.