The engine is not "blown", meaning rings and valves are OK. But from what you said, it appears the headgasket leaks. Verify this by having the oil tested for antifreeze and vice versa. Check the exhaust for antifreeze also.
Did you pull off the thermostat yet? If it is stuck closed, the engine temp will rise quickly. The car can run without the thermostat in place, but it will run rich until the engine hits normal operating temps.
Klaus
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Always willing to listen, just not able to take direction.
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