Help Please - Excessive White Smoke from Exhaust 2.6
 

My 1990 Mercedes 190E 2.6L inline 6 is a high mileage car... in fact the odometer is frozen at 185K and I've driven it for 7 years solid... I've maintained the car fairly well. My car was driving fine the other day. However when I pulled off the highway I felt the car act a little sluggish. I look in my rearview mirror and it is bellowing out white smoke from the exhaust. It has always used oil and I have notice it leaking oil from oil pan gasket for years... just ignored that.... (transmission fluid has also needed to be refilled everytime I notice it slipping) but the engine never smoked at all-ever. I limped the car home while it embarrassingly smoked like a chimney... then, I took the car to local European Car Service Center and am told the following [bracketed words are my own]:

"Found vehicle to be leaking oil from timing cover, as well as oil pan gasket [replaced oil pan a few years ago after jumping curb and knocking a hole into it]; thermostat hose is split (not leaking yet) will need to be replaced only possible to replace hose by removing water pump assembly. Recommend replacing water pump while vehicle is apart. Vehicle towed to in. Customer states runs good for a few seconds then begins to smoke heavily and run rough. Found vehicle to be misfiring heavily. Completed leak down test and found multiple cylinders with 85% leakage. Advise customer vehicle will need engine replaced."

My oil pressure has always been great. Car was not overheating at all. There were no pressure release sounds or bubbling sounds after turning the engine off.

I have these questions:

1) based on information provided, does engine really need to be replaced?
2) based on information provided, is a rebuild possible?
3) is engine replacement cheaper than rebuild?
4) based on information provided, is there a quicker/cheaper fix perhaps?
5) what is the expected number of labor hours on an engine replacement?
6) what is the expected number of labor hours on an engine rebuild?
7) Does anyone know any mechanic in or near Dallas, Texas that can work on this car?
8) Does water pump really need to be replaced?
9) Where can I find a replacement engine, if that is indeed what I need?
10) Do you have any suggestions on what I might do to troubleshoot this issue better?

Could be bad head gasket, broken cam shaft bent valves. who knows. These motors can be had for peanuts now. You should change everything your willing to. The car is not worth much so it really depends on you if it is worth the cost.

Wow ----you have added new dimensions to the words----well maintained---based on your definition,I would not do a thing---keep driving bro--well maintained my A!!