Toyota: 91 Supra .. Oil / Smoke / Rings ?, head bolts, piston rings

Question
Ok, so I've just finished a swap ( transferred head and components to a different block ) and re-installed the engine. After a few timing issues it runs and does so well.

Problem: She eats oil on a major level and smokes. The smoke looks white sometimes blueish I guess ... and smokes fairly bad when driving. The head I'm sure is ok as it it was ok before the swap. I am concerned about the rings.

It really only smokes when I throttle up while sitting or when I pass about 2500 RPMS while driving. If I shift thru the gears very easily it won't smoke but sure enough when I get around 2500 to 3k RPMS it starts smoking. The plugs wires cap and button are new. The plugs are already dirty of course and dark. I can only assume that the way it's eating oil and smoking that the rings are bad.

I've also heard rumor about the torque settings at 56lbs for the head bolts should be increased to 72 lbs. Could I just need to tighten the head bolts ? I have no external leaks ( no leaks at all for that matter ) from the head or do I just need to re-ring it ? Stumped and trying not to pull my engine out again. haha

Thanks,
Chris

Answer
White and sometimes blueish smoke..  Hmmm.. Well, the white smoke I'll say is your headgasket that needs to be tightened to that 70-85 lb ft.  I can't tell you exactly what it is so your best bet is to follow that 72 you heard.  

The blueish tinge is most likely oil thats probably going through the piston rings or through a valve that may not be seating correctly.  Check your valvetrain first, then the piston rings.  But, a compression tester would probably save you alot of trouble though.