Amnesia

Hey guys,
I've got a 95 P10 with 67k on it and just recently the CEL came on. The idle had been a bit low before that, 650 rpm or so, and somewhat inconsistent. I pulled the codes and got 25 - IACV, and 34 - knock sensor. I removed the IACV and cleaned it as best I could, cleaned TB butterfly, then reassembled everything, cleared the ECU, and started it up. First more major problem occurred here. The car was tough to start up, and white smoke just poured from the exhaust, increasing with throttle increase. CEL is still on, same codes. The car also shakes quite a bit when in reverse and a good bit in drive. This leads me to believe that my motor/tranny mounts are on the way out. I shut her down and then put it in timing mode to check that out. The timing was around 5-10*, I adjusted it up to 15-16*, and readjusted my idle. Shut it all off, reset ECU, and started up again. White smoke started to go away but it's still puffing out of the exhaust, nowhere near as much now though. CEL went off for now, although I have a feeling that will come back.

Could cleaning the IACV and TB cause all the white smoke(used carb cleaner and dried it out afterwards)? I'm wondering if I just need to replace the IACV or if my problem seems rooted elsewhere. I also read that the knock sensor code causes the ECU to retard timing below 4k rpms, could that have caused the timing to be different than what it was previously set at?

Anyways, I really need some guidance as to where to actually start with this problem. I will be doing a compression check later tonight, and I will reply with those findings, hopefully it's not the head gasket(white smoke kinda freaked me out). Is the knock sensor code related to any of this? I found that the knock sensor code doesn't trip the ECU, so I don't know if it's been there and I just need to replace the sensor or what. Any help is appreciated, thanks.
Sam