Added Update:
Drove it around town for a good 45 minutes to an hour, I can't believe how good it runs! The smoke went away after a few blocks of driving; now, I can only make out the faintest hint of grey but only if I floor it.
I'm quite happy with the results. And I think I got rid of most of the bigger oil leaks- there is no longer oil cascading down my alternator at idle! The previous owner had the dealer replace the entire turbo with a new one about 10,000 miles ago to try to stop the leaks- between that, the new vacuum pump that was installed at the same time, and this timing belt service, I think this thing might see 400k!
I'm definitely on the lookout for a clean 740/940/960 wagon to put this drivetrain in.
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