No start after running rough

So I own this 88 for about 6 years and as strange as it may seem, I never put my foot all the way into it and wind it out. The other day a guy came up on me like gangbusters and I put my foot into the radiator. The first thing I noticed it boosted over the 15 lbs almost instantly. No problem getting away from him but I came off the high boost. I looked under the hood when I returned home and found what looks like a bypass of some kind. Maybe a few days later I started the car and after driving a short distance the car started running rough and lost pretty much all power. I turned around to bring it back home and just before reaching there it started to run fine. I parked it anyway and when I got out it was smoking at the rear of the firewall area on the passenger side. I left it alone. No fire. Nothing obvious or anything except for the smoke. Now it won't start. Tries to. But won't start. Anyone with any ideas?

So how does it crank, like normal or does it seem funny. Need to check the cam is still lined up right. Put it on TDC and pull the plug in the belt cover and look at the marks. Also make sure the cam belt is still there too and the cam turns. Leak could be valve cover or coolant. Pull the intercooler and look. You could do a compression test too to make sure things are good.