Hey Zak,
I do not know if this will help, but here is my story so far.
I own a 93 corrado 1st gen (with distributor). 2 years ago the car suddently start smoking like hell. I needed a reliable car for work, so I bought something else but I kept the corrado to fix it myself later. Few months later I decided to start working on it with a new friend who was a mecanic at hyundai. The car was not starting anymore ... it was jammed. We thought it was something internal and I was pretty sure the smoking problem was the head gasket. So we striped down the head to replace the gasket, put everything back in place and try to start and it was still jammed ... it was the alternator that had to much rust in it. We replace the alternator and the car started no problem but after couple of minutes was smelling gaz and smoking again ... pretty much like your video. Winter began, so we stop there, believing the problem was the rings.
At the beginning of this summer,I bought a new engine (got a pretty good deal) and we replaced it. Once done we started the car and we thought everything was good but the car started smoking after 5-10 minutes ... when the engine was starting to warm up a little. We left it running for 5 minutes to "burn" anything left in the exhaust. I could not leave it running any longer since it was smoking my neighbors .. It did not solve the issue. Than I surf the web, found this page and hoped you would find the issue for me :D
Following other articles I read and some advice from my friend I bought use parts and changed my ECU, MAF, Fuel rails with all the injectors ... I noticied my TPS (aka Throttle Valve Potentiometer) was damaged, but I did not have any replacement. So I left it that way. I started the car, but nothing changed ... Car was still smelling gaz and smoking after few minutes and it was now running roughtly. I changed my ignition cables and after that realized I did not know the firing order since the last time my friend did it ... so I looked in my manual... found the 1-5-3-6-2-4 but I did not know which cylinder was the first ... I end up pluging everything like a diagram from "Volkwagen Corrado - Official Factory Repair Manual". I started the engine and it was running much better ... I left it running few minutes and it started smoking again ... but a lot less. It was close to midnight ... I took the car on the road and drove a mile or two .. it started to smoke like crazy. I turned around, drove in the garage, stopped the engine, closed the door and went to sleep. 2 days later, I talked to my friend ... told him the engine was running better with less smoke and that I drove it for couple of miles but it smoked like before. He told me to leave it running for an hour just to see if it was not some oil stucked in the catalytic converter that was burning when the engine was warming up. I parked my car in my driveway, started it and left it there for 5, 10, 20, 45 minutes ... still no smoke ... let it warm up until it reaches 120 degrees ... still no smoke. Press the gaz pedal to the floor ... no smoke. I took the car to a road test but it is hesitating a lot ... but it is not smoking. My next step is to change the fuel filter since it has not been changed for the past 5 years and replace the fuel in the tank since it is 2 years old. I also have a idle problem which is probably caused by my bad TPS.
All that story to say that there is a good chance that after you changed the head gasket, your smoking problem was probably caused by oil in the exhaust ... If I find anything else, I'll let you know.
Good luck !
