86 Ranger Running problem smoke

[stagefright13]

I have a Ranger 2.3 liter efi. It started running really poorly on Friday and Monday morning I couldn't even drive it. The plugs are black and wet (New plugs) Pumps out white smoke when you try to rev it. (But doesn't smell like oil) Black smoke comes out also and smells of unburned fuel when I try to idle it.
Think the head gasket is blown?? It has been using some anti-freeze latley. I checked all cylinders with a timing light and they are sparking. I also replaced the fuel filter. (Didn't see any water in the bowl) I also tried a spare ignition module. The inside of the tailpipe is black with soot.
I have a leakdown test kit and all shop tools from when I was a motorcycle mechanic. But have no compressor to operate it.
Waddaya think?
Thanks!!

[stagefright13]

OK I'm a dummy. I just decided today to diagnose it like a motorcyle. I checked the oil and level was high so I dumped it. Gas in the oil. Checked fuel system. Turns out the fuel pressure regulator was bad. Flooding was the problem. Black smoke from fuel and white smoke from oil level too high. My nose must be bad tho cause I didn't smell oil burning. Oh well gonna get one tomorrow.
Thanks tho for looking. I was checking out the cool parts in this forum.