Im convinced its the turbo.
My thoughts:
Metal friction noise = the shaft/spool grinding, considering it builds and goes away.
White smoke = coolant/water leaking and burning in the turbo, crack'd case most likely?
Excessive oil in Intercooler = gotta be turbo leak or crack once again. No catch can under a 30gal would have helped or even explained the Hot & Cold side oil saturation.
Im gonna pull it all one of these nights and try to reach a final verdict. Simple checking the dipstick, oil cap, and oil soaked intercooler didnt result in finding any chocolate milky oil. So i doubt its headgasket.
Def let me know of any help you can provide regarding rebuilds. Thanks!
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