Smoke????
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we had a similar car come into our shop doing the same thing. The car ran fine under normal driving and still ran like a scalded dog. compression and leak down tests showed that everything was normal with the car. The owner purchased the car from an older gentleman who didnt drive the car that much and drove it fairly easy. We removed the cats off the car and it started puffing blue smoke under decelleration at high rpms. We changed the pcv and it helped a good bit. But it was still blowing a little blue smoke under deceleration. The customer decided to do a cam swap and the problem got worse. In order to sum it up we changed the valve guide seals on the car and it eliminated the problem. we came to the conclusion that since it wasnt driven very often or hard the valve seals got brittle and hard. I believe you can get the viton seals for 20 bucks. what happens is when you decelerate it creates dead cylinder pressure drawing oil through the bad seals. We spoke with a few shops and it seems the 853 head cars seem to be bad about doing this check the casting number on the heads. Nothing a cam swap and seal change wont fix
. Try the PCV first if that doesnt work that would be my guess. 
