John, there are several things that can contribute to this.
First like has been mentioned, check the air flow. But what they aren't telling you is this. With 300k on the motor, and one rebuilt, the intercooler may be jam packed with oil and funk. The crank case vent is vented into the intake side of the turbo. This in turn pumps oily vapor through the entire intake tract. And that's the reason you see oil around all the intercooler boots.
The only way to test that is find a way to bypass the intercooler. If it's an early 99 you can do it with an old body style intake (94.5-97).
But I want to back up for a second. When did you buy the truck, and EXACTLY what have you done to service it so far. That info is important.
Does the truck miss? If not, you have air flow or fuel flow problems. Have you drained the fuel bowl and changed the fuel filter? Have you checked fuel pressure? ETC.
The Anna said the codes translated to map errors. First and foremost, is the map line connected? This should be a hose that runs from the center of the intake manifold (spyder) to just above the HVAC box on the passenger side firewall. If it is connected, does it have a hole in it from rubbing the intercooler tube. If it's in good shape. The map sensor may be shot.
Have you changed the oil, what did it look like? Air filter? As far as the turbo not spooling, that's not the issue. The EBPV can be unplugged under the compressor side of the turbo. It's a black 2 wired connector. Just unplug it and the valve will stay open.
Okay, there is some food for thought. If it's not missing, it can be fixed. Don't worry about the smoke, it's a byproduct of the fuel or air not working right. We'll get it figured out.