Time for an update: Crankcase breathing is done via one catch can. It pulls fresh air from the passenger side intake into the engine. From the other side it pulls crankcase gasses from the valve cover into a catch can, and from the catch can to a PCV valve on the drivers side of the plenum. I had this running with out the catch can and the engine accumulates oil in the intake. It's surprising how much oil and water the catch can accumulates, probably a pint in between oil changes.
I have 12,000 miles on it now and no real problems to report. I did have to change the IAC valve, this fixed dieing issues when accelerating and idling issues. Also had a dead short I couldn't find for a while and it ended up being the 'air meter', which is a cold start feature on the back of the intake that allows additional air to pass during cold start. Apparently it was wired to a constant hot, fixed that and now it starts a lot easier and no more charging batteries. yay.
The oil smoking went away, apparently just a break in issue. Still running only 6lbs of boost, just haven't gotten to installing the boost controller. The truck runs really strong! Im actually hardly in the boost unless im passing someone or climbing a steep hill. Average mileage is appx. 20mpg.