A bent rod would be very rare indeed. It's simple to check the chain & cam timing, just pull the valve cover & follow the procedure in the PDF below. Smoking could be a number of different things. Could be related to the IP. Very hard to diagnose your problem without a LOT more information. A compression test might give a little insight. Did this happen overnight or has it gradually been getting worse...?
Timing chain check procedure:
http://www.meimann.com/docs/mercedes/OM60x_Timing_Chain_TSB.pdf
