Trying to troubleshoot a 2002 S60 with 2.4t (us made), 130k thousand miles

Car used to smoke a bit sometimes on startup, also you'd get a low oil light sometimes (i guess from the oil sump seals), one day it started smoking a lot and making a ton of weird noises - all pointed to turbo

took the turbo out, it was done. one bearing was cracked, the hot side piston seal was totally worn out and the piston ring wouldn't even hold. Got parts from a similar TD04HL-13T, a rebuild kit, and combined the 2 to put together a solid turbo (it is not professionally balanced, but still)

Put the turbo back in the car, refilled coolant. Started car - it heats up and smokes lightly - giving it gas yeilds in billowing smoke out of the tailpipe, white, no obvious smell. Drove around - same ***. Some coolant also disappeared - now I am not sure if it is disappearing or if there was air since alot of it came out with removing turbo lines.

I also at some point did a compression test on a COLD engine, and it was all within spec (even though on a cold engine, the compression should be lower since the piston rings aren't sealing) so I don't know....

History of the car: I don't know what was replaced or not replaced. I replaced the timing belt myself, don't know anything else, really.


Edit: also, the engine is very gunky... There is stuff baked on the oil fill baffle for example.
Edit2: Coolant looks clean, Oil looks clean (ie no mixing)
Thoughs?

You might want to check your air flow sensor. This can make the exhaust smoke, although the smoke won't smell like burning oil.

could just be oil deposited in intercooler being burnt off and eventually will clear or could be further damage to engine has occured. (presuming smoke is white)