Check for auto tranny leaks as well.If there's that much smoke I'd get to the bottom of it before you get the next progression..fire.
Ron

 

If there is white smoke blowing it is most likely coolant. You said that it doesn't want to run right anymore and I think that is your problem. Check the coolant level in the radiator, if it is low then you are definatly getting water in the motor. It may not be a head gasket though. Could be a cracked head, or worse, a cracked block. Pull out the spark plugs and see if they are really white and clean or if they have a tanish color to them. If the carb is in adjustment and there is no sign of coolant, then the plugs should be a light tan color. These are just some simple checks anybody can do with simple tools to check for a blown head gasket, cracked block, cracked head.

 

I just reread the forum where you said it was lugging when you tried to start it. BINGO! I hate to say it but you get to re-do the motor again. There is definatly water getting in there. Water won't compress like air/fuel so when the piston comes up it can't go up all the way because there is water in there and it won't compress so it causes the lugging you're describing. Sorry dude!