Blowin' Smoke! Please Help

i have used engine restore in a few high mileage engines and the stuff works. it really helped in sealing the rings. you have good compression, but it sounds like oil is still getting past the rings . with the new heads i would think you have eliminated the possibility of it being the valve guides. there really isnt any other way oil can get into the combustion chamber. is the smoke coming out one pipe or both? or do you have an X or H pipe?
pull your plugs and inspect them. if you are burning oil in one cylinder, it will show up on a spark plug.