I don't know what's up with this motor. Ever since I bought it, it has been an oil eating son-of-a-bitch! I'm going through about a quart a week on this car. The only time there is any discoloration in the exhaust is under WOT and even then it isn't that bad. My old turbo showed no signs of shaft play or oil consumption, my new turbo is brand new, I have a very very small oil leak, but I can't find out where my oil is going?

Any ideas? This is a built bottom end and could it be the ring gap on the pistons is too high?

Any smoke out the rear? I am thinking bad Valve seals....known to usually be the culprit.

Like I said, I only have any kind of smoke coming out under WOT. Other than that, I never see anything, smell anything, nothing!

Take off the downpipe, inlet, and compressor outlet to look for oil. However, I'm thinking that Bigbald is right on this one.

1. Serious Blow-by - out into the engine or into the intake manifold through the PCV Valve
2. Bad Valve Seals - Usually smokes alot during hard acceration and sometimes at idle
3. Bad Seals in turbo - Do as poster said above and check for oil
4. Oil Leak - Pretty obvious
5. Bad Headgasket - Mixes with coolant

Only things I can think of off hand.

Dan, it could definately be the valve seals or the turbo seals. I've seen friends with brand new turbos that needed replaced because the seals were bad, though that is rare. The valve seals would typically smoke under idle after idling for a while, and at start-up. You should notice milky coolant if it's the head gasket.
Or it could be the oil rings and this is what I'm leaning towards. You can have perfect compression numbers and still get tons of oil past the oil rings, meaning the other compression rings are fine. I know this first hand, my Talon smoked BAD under boost and when decelerating after hard throttle but was perfectly fine at idle and cruise. I first replaced the turbo but ened up having to redo the bottom end. Don't rule out the turbo seals though.
What pistons/rings were installed in your new block? What did the shop recommend for break-in? If those are Total Seal rings then that shop doesn't know what they're doing and you must replace them. Total Seal rings will not seat with the metal of our shortblocks. It has to do with the high nickel content of our blocks not mating well with whatever Total Seal rings are made of.

I don't know the specifics of what the motor was built with. That is why I'm building my 2.3L. The motor pulls like a raped ape with that 35R on there, but it still isn't good enough. I think I'm going to get my turbo checked out when I have it off the car to make sure all the seals are still good.

It's either blow-by or Valves seals.....I can feel it.

My VR4 supposedly needs valve seals or turbo's to but I don't get much smoke during WOT. Most of the time it's after I give the car some gas and then let off to coast to a light. That's where A LOT of smoke comes out. The turbos seem to be making the death whine but I dunno why smoke would be coming out when it's not in boost. Damn expensive parts for my car.

take your intake off and do a boost leak test and see if air comes out the valve cover catch can line