HI derik, Thanks for the additional information, and the pic as well. Nice clean engine! I listened to the sound clip, and it is almost certain that you have a defective valve lifter. Let me explain: Valve lifters work almost like hydraulic "springs", and if they don't release their pressure at a certain point, the valve does not fully close, hence the low compression. Valves that leak because their sealing surfaces are burned, pitted, or otherwise damaged are not noisy. From the sound clip it is clear that there is a serious misfire present at idle or low RPM. You may not notice it because Mitsubishi engines are balanced very well, and especially their V6 engines. The ticking noise you hear at idle is caused by the valve lifter not maintaining the correct clearance between the rocker arm and the cam lobe. However, at high RPM's, the oil pressure increases, forcing the valve lifter to work, hence, the noise goes away, and returns when the oil pressure drops. Any type of damage to the pistion that could cause low compression and noises will cause smoking as well. The same goes for the valve seat in the cylinder head. If the valve seat had worked itself loose (rare, but it does happen), the ticking noise won't go away at high engine speeds. In fact, it will get louder, so it seems you don't have to open the engine to fix the problem. You can remove the valve lifters by removing the camshafts. However, it is not a good idea to replace only the lifters on that one cylinder bank. Repace the lifters as a complete set, but be aware that they may all be noisy when you first start the engine. This is normal, and will go away as the new lifters fill up with oil. NOTE: Make sure that the new lifters are completely empty of oil when you fit them. You will know a lifter is empty when you can move the little piston freely (with no resistance to movement) for a distance of 5 to 6 mm. If you fit lifters that are not relaxed, the valves will not close, and you will have no compression on any of the cylinders. TIP: You can relax valve lifters by inserting a straightened out paper clip into the hole in the top of the piston. This releases the internal ball valve which allows the oil to drain, thus relaxing the lifter. The gas that burns your eyes in a closed space is unburned fuel in the exhaust gas. The air/fuel mixture cannot fully combust in the cylinder with the low compression, but at higher RPM's it might partially burn. Whether it does or not is not important, but what is important is that the exhaust gas is now very rich in unburned hydrocarbons that can destroy your catalytic converter(s), if you have them fitted. I hope this helps you out, but please post the result of the lifter replacement when you are done. This will help other members who might also have lifter issues.